CBRE Group has agreed to acquire a majority stake in Caledon Capital Management, a Canadian investment manager focused on private infrastructure and private equity investments, for an undisclosed sum.

Caledon has team of 30 people in Toronto, which oversees around $7bn in assets for institutional investors.

Following the completion of the deal, the acquired business will be rebranded as CBRE Caledon Capital Management and will become a separate business division under CBRE Worldwide Investors, the investment management arm of CBRE.

Caledon’s existing management team will continue to manage the business with significant long-term ownership.

The deal is expected to be completed later in 2017, subject to regulatory nod.

CBRE Global Investors CEO Ritson Ferguson said: “Caledon’s market-leading investment solutions are a logical extension to our existing suite of real estate and infrastructure investment solutions, enhancing our position as an industry leader.”

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