Corient has agreed to acquire FortCay Family Advisory, a Cayman Islands-based wealth manager and multi-family office, for an undisclosed amount.
FortCay was set up by Billy Harty and Matt Houghton and works with 14 ultra-high-net-worth families, overseeing about $2.6bn in client assets.
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FortCay founder and managing director Billy Harty said: “From the start, we felt that Corient shared our high standards and our commitment to putting clients first.
“Their partnership model gives us access to the depth and scale of a global firm while creating new opportunities for our clients. We’re excited about what lies ahead.”
The transaction establishes Corient in the Cayman Islands.
Founded in 2020, Corient uses a private partnership structure.
The firm says this model allows clients to draw on a wider pool of specialists and resources across the business instead of working through a single adviser.
Corient has more than 300 partners and over 2,700 employees.
It manages about $572bn worldwide for ultra-high- and high-net-worth individuals, families and businesses.
Corient CEO and founding partner Kurt MacAlpine said: “A meaningful share of the world’s most complex family wealth is structured and administered in the Cayman Islands.
“Many of our clients live, work, and invest across borders – establishing a presence in Cayman deepens our ability to serve them. The FortCay team has built an outstanding business, and we look forward to bringing their expertise to Corient clients around the world.”
In June, Corient struck a deal to buy Letus Private Office, a multi-family office and wealth advisory firm serving entrepreneurs, ultra-high-net-worth individuals and families in France and other parts of Europe.
