The national wealth management firm Corient says it has acquired Breed's Hill Capital, a $3.5 billion wealth management firm specializing in ultra-high-net-worth family services.
The transaction expands Corient’s presence in New England, according to the announcement, while enhancing its ability to deliver fiduciary wealth management services to UHNW individuals, families and institutions in the region.
The deal comes fresh on the heels of Corient’s acquisitions of Stonehage Fleming and Stanhope Capital Group, a set of deals that brought in a combined $214 billion in new client assets and added global reach to the ultra-high-net-worth specialist firm. Upon closing of these transactions, Corient’s total client assets will approach $435 billion.
Kurt MacAlpine, partner and CEO of Corient, cited a “proud legacy of high-touch wealth planning and enduring client relationships” at Breed's Hill as key drivers of the acquisition.
“Their extensive experience in managing the complexities of very wealthy clients and their relentless commitment to excellence make them a natural fit for Corient,” MacAlpine said in a statement. “As part of the Corient Partnership, [their] team can significantly enhance the services offered to their clients while deepening our firm’s expertise and roots in New England.”
Breed's Hill was founded in 2013 by John Edwards, who was previously affiliated with Athena Capital Advisors and Lake Street Advisors.
“The Corient partnership was a decisive factor in our decision to join the firm,” Hill said. “It allows us to maintain our high service standards while gaining access to deeper resources, expanded capabilities and a national network of like-minded partners who share our values, fiduciary approach and long-term vision for clients.”
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