Foundry Partners LLC closed its acquisition of the growth team from Arbor Capital Management LLC.

The acquisition closed Sept. 30, with Foundry Partners taking over assets on Oct. 1.

Foundry Partners now holds about $2.19 billion in AUM, as of Oct. 1, in addition to managing about $671 million in advisory-only unified managed account assets, as of Aug. 31, making for about $2.86 billion in total assets.

Terms of the deal were not disclosed.