Houlihan Lokey, Inc. the global investment bank, has acquired BearTooth Advisors, an independent advisory firm providing strategic advisory and placement agency services to alternative investment managers. Terms were not disclosed. Following the closing of the transaction, the BearTooth team will form the Private Funds Group, a new service offering within Houlihan Lokey’s Corporate Finance business. “The establishment of the Private Funds Group both underscores and takes advantage of two of Houlihan Lokey’s key strengths: a breadth and depth of financial sponsor relationships that is perhaps unmatched in financial services and our prescient recognition of the prevalence and increasing importance of alternative sources of capital,” said Scott Adelson, Co-President and Co-Head of Corporate Finance.