Insurance group Aon has acquired property investment management firm the Townsend Group from Colony Northstar for $475m (£367m).
Based in London, Aon’s investment arm already has more than $100bn of assets under management. The group also provides insurance and reinsurance brokerage, human resources solutions and outsourcing services in more than 120 countries.
Townsend chief executive Terry Ahern will continue to lead property and property investment services.
NorthStar Asset Management acquired a majority stake in the Townsend Group from private equity firm GTCR in 2015 for $380m.
Earlier this year, NorthStar Asset Management was part of a three-way merger with NorthStar Realty Finance and private equity firm Colony Capital.
Morgan Stanley advised Colony Northstar.
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