The real estate-focused firm will be added to an internal BlackRock group that now includes HPS Investment Partners.

BlackRock pushed deeper into private markets Monday with the acquisition of commercial real estate firm ElmTree Funds.

The deal gives the investment firm $7.3 billion in assets as it attempts to broaden its holdings of private assets, following BlackRock’s announcement last week of a new all-in-one 401(k) target date fund with private equity.