Hamilton Lane has agreed to acquire Real Asset Portfolio Management (RAPM), a Portland, Oregon-based investment management firm focused exclusively on real assets.

The acquisition is part of Hamilton Lane’s strategy to broaden its real assets platform. The deal will add nine investment professionals to the company’s existing real assets team.

Hamilton Lane said it intends to buy substantially all of the assets of the firm and will retain the entire RAPM team in their current roles.

The RAPM team led by Steve Gruber and Brent Burnett will continue to be based in Portland.  Also, Gruber and Burnett will join Hamilton Lane’s real assets investment committee.

Hamilton Lane CEO Mario Giannini commented: “This deal is an opportunity to enhance our team with experienced investors who share our firm’s values and vision and for whom trust and collaboration with their colleagues and clients is paramount. It is how we have built Hamilton Lane, and as we have come to know Steve, Brent and the RAPM team, we are excited to have them join our firm.

“In addition, this is an important development in the evolution of our real assets platform. Real assets is an area of increasing importance within the private markets, and the addition of the RAPM team will allow us to thoughtfully broaden our capabilities and investment resources in order to better serve our clients.”

The deal is expected to close later in 2017, subject to customary closing conditions.