LONDON — Corient, the US wealth advisory group backed by Mubadala Capital, is pushing into Europe with a sweeping acquisition of Stonehage Fleming and Stanhope Capital, bringing in more than $214 billion in assets under management. The move positions the Miami-based firm among the most powerful independent wealth managers globally.
The transactions, announced Tuesday, mark Corient’s boldest expansion beyond the United States. By absorbing two of Europe’s most prominent wealth managers, the firm gains an extensive footprint across Europe, the Middle East, and Africa. Both acquisitions are structured through equity and are expected to close in the first half of 2026, subject to regulatory approval. Once completed, Stonehage Fleming and Stanhope will adopt the Corient brand, aligning them under the company’s partnership model where more than 260 partners co-own the business.
Corient’s majority shareholder, Mubadala Capital—the asset management arm of Abu Dhabi’s sovereign wealth fund—has been instrumental in scaling the firm’s global ambitions. Earlier this year, Mubadala finalized the privatization of CI Financial’s US wealth business, reinforcing its commitment to long-term growth in private wealth advisory.
Founded nearly five decades ago, Stonehage Fleming ranks among the world’s leading multi-family offices, offering services in wealth planning, investments, and succession. Stanhope Capital, launched in 2004, has built one of Europe’s largest independent wealth management platforms, spanning advisory, private investments, and merchant banking.
Adding financial depth to the deal, Caledonia Investments confirmed the sale of its minority stake in Stonehage Fleming to Corient for about $385 million (£288 million). That transaction is also expected to complete in early 2026, further consolidating Corient’s ownership.
Leadership continuity forms a central part of the integration strategy. Giuseppe Ciucci of Stonehage Fleming will serve as chairman of Corient International, while Daniel Pinto of Stanhope Capital will become CEO of the international division. Both executives will join Corient’s global board. Additional senior leaders, including Stuart Parkinson (Stonehage Fleming) and Keith Bloomfield (FFT Wealth Management), will hold key management roles and ownership stakes in the enlarged entity.
Chief Executive Kurt MacAlpine framed the acquisitions as transformational. “This combination creates the world’s largest independent advisory firm dedicated to the full spectrum of ultra- and high-net-worth client needs,” he said.
Advisory firms Jefferies and Goldman Sachs represented Corient in the negotiations. Spencer House Partners advised Stonehage Fleming, while Rothschild & Co guided Stanhope Capital.
The deals underscore a broader trend of consolidation in global wealth management, as firms seek to scale operations, diversify geographies, and capture the growing fortunes of the world’s wealthy families. For Mubadala, it cements another strategic foothold in private finance, extending Abu Dhabi’s influence in the global financial services sector.
