Mubadala-backed Corient to acquire two European wealth managers in $214 billion asset deal

(Corrects name of partner and chairman to Giuseppe Ciucci in paragraph 6, NOT Tony Ciucci.)

By Hadeel Al Sayegh

DUBAI (Reuters) -Corient, one of the largest U.S. wealth advisory firms, said on Tuesday it would acquire Stonehage Fleming and Stanhope Capital Group, bringing more than $214 billion in client assets under its umbrella and expanding its presence into Europe, the Middle East and Africa.

The deals mark a significant international push for Corient, which serves ultra-high-net-worth families. Stonehage Fleming and Stanhope Capital are two of Europe's leading independent multi-family office and wealth management firms, respectively.

Financial terms of the transactions, expected to close in the first half of 2026, were not disclosed. The acquisitions will be funded through an equity contribution, Corient said in a statement.

Following the close, the combined global business will operate under the Corient brand. Corient said its private partnership model, in which more than 260 partners own and operate the firm, would be extended to its international operations.

Corient is owned by CI Financial's U.S. wealth business, which was taken private last month by Abu Dhabi sovereign wealth fund Mubadala Investment Company.

Giuseppe Ciucci will serve as partner and chairman, while Daniel Pinto will become partner and chief executive officer of Corient's international business. Both will join the firm's global board. Stuart Parkinson, CEO of Stonehage Fleming, will take on the role of Partner and President of international operations. Keith M. Bloomfield, founder and CEO of FFT Management, will become Partner and Vice Chairman.

Ciucci, Pinto and other members of their executive teams will also become partners and significant equity holders in Corient, the firm said.

Jefferies is acting as lead financial advisor and Goldman Sachs & Co LLC as financial advisor to Corient. Legal counsel is being provided by Skadden, Arps, Slate, Meagher & Flom LLP.

Spencer House Partners LLP and Macfarlanes LLP are advising Stonehage Fleming, while Rothschild & Co is advising Stanhope Capital alongside legal advisors Macfarlanes LLP, Dechert LLP and Borel & Barbey.

(Reporting by Hadeel Al Sayegh, Editing by Alexandra Hudson)