CBRE Group Inc. has acquired Toronto investment management firm Caledon Capital Management Inc. for an undisclosed sum, the companies said on Wednesday.

Caledon will join CBRE Group subsidiary CBRE Global Investors, the company’s independent investment management wing. Caledon adds $7 billion in assets under management to CBRE Global Investors’ $98.9 billion portfolio.

Caledon specializes in private equity and infrastructure investments, which CBRE Global Investors Chief Executive Ritson Ferguson said was an attractive part of the deal.

“Infrastructure is a strategic component of an allocation to real assets, and we expect client demand for it will continue to increase,” Ferguson said in a statement. “The CBRE Caledon team has deep experience and a strong track record investing around the globe, so this acquisition is important in helping us meet our clients’ needs.”

CBRE’s stock was relatively flat Wednesday, closing at $36.88. The company’s market cap is about $12.6 billion.

Deals & Dealmakers reporter Henry Meier can be reached at [email protected]. Follow him on Twitter @henry_meier.