Investment bank Houlihan Lokey has expanded its private funds group by acquiring Triago Management Development, an advisory firm with core capabilities in primary fund and direct investment fundraising, general partner and limited partner-led secondary transactions and providing strategic advisory services to both GPs and LPs.

As a result of the acquisition, Houlihan Lokey’s private funds group will be able to offer clients primary, secondary, direct and GP advisory services on a larger scale. The global PFG team now comprises more than 70 financial professionals with senior officers in London, New York, Paris, Chicago, Los Angeles, San Francisco, Frankfurt and Dubai.

“With PFG’s suite of services alongside our private capital advisory team, deep financial sponsors coverage group, and our other partners across the firm, we believe that we are now among the absolute best advisors to general and limited partners in professional services,” says Scott Adelson, co-president and global co-head of corporate finance, Houlihan Lokey.

Boutique investment banks have been hit by a slowdown in mergers and acquisitions over the past couple years, and are looking for ways to weather the slump. Houlihan has fared better than some rivals, in part because of a pickup in revenue from its restructuring business, according to Bloomberg News.