Aon has strengthened its alternative investment offering after buying real estate and real asset adviser Townsend.
The consultancy paid $475m for the US firm from investment manager Colony NorthStar, four months after the deal was agreed.
When confirming the deal, the acquirer explained that Townsend operates in areas of increasing demand by its clients and the deal shows its commitment to this space.
Aon now manages more than $130bn of assets and has advised on around $240bn of real estate assets.
Colony NorthStar described Townsend as “non-core” and will reinvest the $379m proceeds of the sale into its strategic priorities.