Private markets investment manager Hamilton Lane is buying Real Asset Portfolio Management (RAPM).

The merger will add nine investment specialists to Hamilton Lane’s existing real assets team.

Hamilton, a Philadelphia-headquartered company that has been investing in real assets for 18 years, said it will take on all of the RAPM team in their current roles.

The RAPM team, led by Steve Gruber and Brent Burnett, will remain based in Portland and will manage the new combined team.

Gruber and Burnett will join Hamilton Lane’s real assets investment committee.

Mario Giannini, CEO of Hamilton Lane, said: “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.”