CBRE Group Inc. completed its purchase of a majority stake in Caledon Capital Management Inc., a Toronto-based investment management business specializing in private infrastructure and private equity investments.

As agreed, Caledon has changed its name to CBRE Caledon Capital Management Inc. and now operates as a separate unit within the group's investment management business, CBRE Global Investors LLC. Caledon's management team will remain in place and will continue to hold "significant long-term ownership," CBRE said in a release.

CBRE Caledon manages about US$7 billion of assets for institutional investors.