Corient, the Miami-based wealth management group backed by Abu Dhabi’s sovereign wealth fund Mubadala, has agreed to acquire Bedrock Group, a Geneva multi-family office managing CHF8.4 billion ($10.7 billion), as the US firm continues its streak of acquisitions.
The deal, which was announced yesterday, remains subject to regulatory approval.
Bedrock is set to be the third significant European acquisition Corient has announced in under eight months, following the September 2025 announcement of deals for Stonehage Fleming, which oversees $175 billion in assets, and Stanhope Capital Group, the London firm managing $40 billion – neither of which has yet closed.
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Combined with those pending transactions and its existing US business, Corient says it will oversee approximately $468 billion in managed and administered assets upon completion – a figure that would make it one of the world’s largest non-bank wealth managers.
Founded in Geneva in 2004 by Ariel Arazi, Maurice Ephrati and David Joory, Bedrock is an independent multi-family office with offices in Geneva, London, Monaco and Lisbon.
Bedrock’s three founders will become partners under Corient’s private partnership model – a structure the firm presents as its defining competitive advantage.
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Corient is the registered investment adviser (RIA) arm of Toronto-based CI Financial, which was taken private by the $302 billion Abu Dhabi sovereign wealth vehicle Mubadala Capital. The C$4.7 billion transaction closed in August 2025.
The Bedrock deal comes against a backdrop of aggressive consolidation in the US wealth management industry. Deal volume in the sector hit a record 466 transactions in 2025, up 27 per cent year on year, according to Echelon Partners.
Corient’s founding partner and chief executive Kurt MacAlpine has previously argued that Europe requires a different strategy to the US. ‘Because of the fragmented nature of the US, we were able to build a business through a series of smaller acquisitions,’ he told InvestmentNews last year. ‘Europe is a very different dynamic – we ended up buying literally number one and number two in the market at the same time.’
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At $10.7 billion Bedrock is considerably smaller than some of Corient’s other acquisitions, but the Geneva base adds a footprint that may be significant as the firm continues to pursue its global ambitions.
Deloitte Switzerland advised Bedrock’s principals on the transaction.
This article was produced by human editors working with AI tools
