Corient Acquires $4.9B New York Multi-Family Office

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Corient, the Miami-based registered concern advisor owned by the Mubadala Investment Company, has acquired Seven Bridges Advisors, a New York-based RIA with $4.9 cardinal successful assets nether management.

Seven Bridges was founded successful 2011 by Larry Cohen arsenic a multi-family bureau and wealthiness manager. The steadfast has six partners, who volition go partners of Corient erstwhile the woody closes. The RIA focuses connected serving entrepreneurs and founders, fiscal services executives and ultra-high-net-worth families.

"What drew america to Corient was its concern structure, which puts collaboration archetypal and gives each lawsuit entree to the corporate expertise of the firm," Cohen said successful a statement. "This model—unique successful wealthiness management—combined with the prime and breadth of services offered by Corient, importantly enhances what we tin present to clients."

Corient present has much than 300 partners and implicit 2,700 employees crossed astir $535 cardinal successful assets globally.

The steadfast was founded successful 2020 arsenic the RIA limb of Toronto-based concern and wealthiness manager CI Financial. That firms was taken backstage successful 2024 successful a woody led by Mubadala Capital, an alternate plus manager owned by Mubadala Investment Co., an Abu Dhabi sovereign wealthiness fund.

Since being taken private, Corient has been connected a teardrop of ample acquisitions some successful the United States and the United Kingdom. In April, it announced a determination to get Bedrock Group, a $10.7 cardinal wealthiness manager with offices successful Geneva, London, Monaco and Lisbon. That came soon aft a woody it made with a Chicago-based employee-owned wealthiness manager, Vivaldi Capital, which has $5.6 cardinal successful AUM.