Houlihan Lokey Inc., a California-based global investment bank, has acquired independent advisory firm BearTooth Advisors, effective May 21.
Terms of the transaction were not disclosed.
BearTooth provides strategic advisory and placement agency services to alternative investment managers. Riverstone Holdings LLC, an energy and power-focused private investment firm, co-founded BearTooth, which operates as a division of Riverstone Capital Services LLC and Riverstone Europe LLP.
After the deal closes, the BearTooth team will form the Private Funds Group, a new service offering within Houlihan Lokey's corporate finance business.
Bob Brown, Andy Lund and Jim McGee — co-founders of BearTooth — will jointly lead the group, which will comprise 17 personnel based in London and New York.
