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Corient, the fee-only registered investment advisor arm of Mubadala Capital-owned CI Financial, has acquired Bedrock Group, a European wealth manager with offices in Geneva, London, Monaco and Lisbon. The firm adds $10.7 billion in client assets.
The deal represents Corient’s continued expansion into Europe, bringing the firm closer to its $450 billion AUM goal.
Bedrock was founded in Geneva in 2004 by Ariel Arazi, Maurice Ephrati and David Joory. The multi-family office focuses on ultra-high-net-worth clients, providing investment management, specialized private asset strategies and family office services.
“Joining Corient allows us to continue providing our clients with deeply personalized service, now supported by the full array of Corient’s wealth management and family office capabilities,” Maurice Ephrati, managing partner of Bedrock, said in a statement. “We’re also excited by the potential of Corient’s partnership model and collaborating with other wealth advisors and professionals from around the world on behalf of our clients.”
Bedrock’s principals will join Corient as partners.
This follows Corient’s entrance into the European market last September with its acquisitions of Stonehage Fleming, a multi-family office based in Jersey, U.K., overseeing $175 billion in assets, and Stanhope Capital Group, a London-based wealth manager with $40 billion in client assets.
Daniel Pinto, founder and CEO of Stanhope, will become a partner and CEO of Corient EMEA. Pinto said he’s known Bedrock and its founders for nearly two decades.
Their business is highly complementary to Corient,” Pinto said in a statement. “I look forward to working closely with them to deepen our footprint across Europe and to offering our combined client base one of the most comprehensive wealth management platforms globally.”
Fee-only RIA Corient was formed in 2023 as the rebranded U.S. wealth management business of CI Financial. Last year, CI Financial officially closed a deal to be taken private by alternative asset manager Mubadala Capital, after previously being listed on the Toronto Stock Exchange. CI announced that $3.4 billion deal in November 2024.
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