The Houston-based provider of alternative investment solutions has completed its acquisition of Forward Management for an undisclosed amount.

Salient Partners, the Texas-headquartered asset manager and provider of liquid alternatives, has acquired Foward Management, in a deal that creates a $27 billion diversified asset management firm.

The combined fund platform will operate from offices in Houston, San Francisco and New York, with a staff of 250. Salient said it will announce the branding of the new entity upon completion of the integration process. Details of the deal were not disclosed.

Salient will be led by chairman and chief executive John Blaisdell, along with president Jeremy Radcliffe, chief investment officer Lee Partridge, chief risk officer Ben Hunt, and chief operating officer Robert Naka. Partridge will be responsible for new investment strategies and investment committees.

“Over the coming months, we will complete the process of integrating and optimizing our businesses to draw the best from each of our firms,” said Naka.

Salient offers a range of alternative multi-asset and single-asset strategies, allowing investors to create diversified portfolios through vehicles including mutual funds, closed-end funds and separately-managed accounts.