Accenture has agreed to acquire a $3.5 billion fund for a new asset management and investment services group, according to sources.

The deal, which is subject to regulatory approvals, will bring the firm’s investment fund, which currently has $10 billion in assets under management, up to $40 billion in total assets, according the sources.

“The acquisition will provide Accenture with more diversified investments for its global portfolio, including its largest and most successful global fund, the New York-based New York Global Fund, which has a total assets under investment of $35 billion,” the sources said.

The firm will continue to invest in companies across the globe, including Amazon, Apple, and Google.

Accenture acquired the New World Fund in 2017 and has made it one of its top investments, the sources added.

“As the company continues to focus on strategic investment in its global business, the acquisition of this fund will allow the company to leverage its strong balance sheet and broad expertise in managing the largest, most stable and diversified portfolios of global companies,” the company said in a statement.

The acquisition is subject for regulatory approvals.

The New World fund has $1.7 billion in cash and cash equivalents and $1 billion in investments under management.

The fund’s portfolio includes investments in companies that accrue revenues of at least $1 trillion per year and are either global or emerging markets.

Accentus said it expects the fund’s overall portfolio to grow to $20 billion by 2020.

In addition to the New New World investment fund and the New Global fund, Accenture also owns the U.K.-based Nervana Capital and the U-S.

private equity firm Apollo Global Management.

The company has a long history of investing in private equity, which it has leveraged into businesses in the United States and Europe.

“With the support of the New Jersey and New York markets, we believe that this deal will provide us with additional scale and flexibility to invest and expand globally,” David Kohn, chief investment officer of Accenture, said in the statement.