Corient, an integrated wealth management firm, has acquired Vivaldi Capital Management, a Chicago-based RIA with $5.6 billion in assets under management.
Vivaldi serves ultra-high- and high-net-worth individuals and families, combining traditional investment management and planning with a disciplined approach to alternative investments in building portfolios.
"We are thrilled to welcome the Vivaldi team to Corient," said Kurt MacAlpine, the firm's CEO and founding partner.
"Joining Corient enables us to continue delivering highly personalized service, enhanced by an expanded suite of Corient's wealth management and family office capabilities," said David Sternberg, Vivaldi's CEO and co-founder.
"We're also excited about the collaborative nature of the Corient Partnership and the opportunity to work alongside other advisors and firm experts for the benefit of our clients," Sternberg added.
Vivaldi's principals, including co-founder Randal Golden, will become Corient Partners upon closing. That is expected to occur during the current quarter.
"At Corient, partnership is central to how we work," MacAlpine said. "Our partnership structure promotes collaboration and teamwork to deliver a consistent, elevated client experience, providing access to the firm's full breadth of wealth management and family office services, supported by immense scale and resources."
Corient operates as a fiduciary, fee-only U.S. wealth management firm under a private partnership model, which the firm said gives clients access to its broad expertise and resources rather than their relying on a sole advisor.
Since its founding in 2020, Corient has grown to include more than 250 partners and over 1,400 employees managing about $227 billion on behalf of ultra-high- and high-net-worth individuals, families and businesses.
In September, Corient announced the acquisitions of Stonehage Fleming and Stanhope Capital Group. These transactions will add roughly $220 billion in assets to Corient and establish a presence across Europe, the Middle East and Africa.
Corient said it will become one of the world's largest wealth managers and multi-family offices focused on ultra-high-net-worth and high-net-worth clients globally when the deals close, with anticipated combined managed and administered client assets of nearly $450 billion.
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