Pavilion Financial, a North American employee-owned investment services firm, has announced its intention to acquire Altius Holdings, a global private markets advisory and account management group with offices in the UK, US and Singapore.

The deal, subject to regulatory approval, is expected to close in the third quarter of this year.

Pavilion will merge its California-based alternative asset advisory subsidiary, LP Capital Advisors, with Altius Associates, the acquisition’s advisory arm, forming a combined organisation called Pavilion Alternatives Group with total alternative assets under advisement of $60bn, out of a total $570bn.

The combined team will be formed of 70 dedicated professionals in London, Singapore, and across North America, and all senior management from both LP Capital Advisors and Altius Associates will continue in leadership roles after the merger.

Daniel Friedman, President of Pavilion, says: “This acquisition, our fifth since 2010, is consistent with our strategy of assembling various expert and specialized teams to bring top quality investment advisory services and solutions to our clients.”