Corient, the Miami-based multi-family office with roughly $572 billion in client assets, announced Wednesday that it has agreed to acquire FortCay Family Advisory, a Cayman Islands wealth manager overseeing about $2.6 billion for 14 ultra-high-net-worth families. The transaction, whose financial terms were not disclosed, gives Corient its first physical presence in one of the world's most significant jurisdictions for holding and administering private wealth.
FortCay, founded by Billy Harty and Matt Houghton, provides wealth management, estate planning, and family office services to a select group of clients. While its asset base is modest relative to Corient's, the strategic value lies in the Cayman Islands' role as a hub for complex family wealth structures. Many wealthy families use trusts, holding companies, and investment vehicles domiciled there, and Corient previously had to serve those structures from outside the jurisdiction.
"A meaningful share of the world's most complex family wealth is structured and administered in the Cayman Islands," said Kurt MacAlpine, Corient's founding partner and chief executive, in a statement. "Many of our clients live, work, and invest across borders – establishing a presence in Cayman deepens our ability to serve them."
Harty, FortCay's founder and managing director, cited alignment of values and Corient's partnership model as key factors in the decision. "From the start, we felt that Corient shared our high standards and our commitment to putting clients first," he said. "Their partnership model gives us access to the depth and scale of a global firm while creating new opportunities for our clients."
The acquisition is the latest in a series of cross-border deals that have taken Corient into Europe, the Middle East, Africa, and Canada within the past year. In September 2024, Corient completed a two-firm transaction adding more than $214 billion in client assets from Stonehage Fleming and Stanhope, extending its reach across those regions. In April, the firm agreed to acquire Bedrock Group, a Geneva-based multi-family office with $10.7 billion in assets and offices in London, Monaco, and Lisbon. That same month, Corient announced plans to launch in Canada, starting with about C$10 billion in assets from Northwood Family Office and Coriel Capital, along with advisors from CI Private Wealth, the wealth arm of Corient's Canadian parent, CI Financial. In June, Corient added a Paris-based firm managing approximately €4.1 billion (about $5 billion), specializing in complex holdings such as vineyards, hotels, aircraft, and yachts.
The Cayman Islands move is part of a broader trend among large wealth managers seeking to serve clients with international lifestyles and cross-border investment needs. As family offices increase their public equity allocations and plan for succession, having a local presence in key jurisdictions becomes increasingly important. Corient's acquisition also follows similar moves by other firms, such as Apella Wealth's recent acquisitions and AlphaCore's purchase of Streamline Family Office, highlighting the consolidation trend in the RIA space.
With a team on the ground in the Cayman Islands, Corient can now offer local administration and structuring capabilities to its broader client base, potentially attracting new business from families who value the jurisdiction's legal and tax framework. The firm's aggressive expansion strategy, backed by private equity, shows no signs of slowing as it seeks to build a truly global platform for ultra-high-net-worth clients.
