Man Group has concluded the acquisition of Aalto Invest Holding, a real asset focused property investment firm.

Aalto is based in London and has offices in Switzerland and the US. As at 30 September 2016, the company managed $1.7bn in funds.

Under the deal announced in October 2016, Aalto has been integrated into the newly created private markets offering of Man Group named Man Global Private Markets (Man GPM).

Aalto founders Mikko Syrjänen and Petteri Barman have been appointed as co-heads of real assets within Man GPM.

Man Group CEO Luke Ellis said: “We are delighted to have completed the acquisition of Aalto, which is a key step in the development of Man Global Private Markets, our new investment engine for private asset classes, and in the ongoing diversification of Man Group.

“The acquisition of Aalto represents an attractive opportunity for clients, who will have access to longer term investment strategies offering a complementary risk reward profile to our current products.”