Mubadala-Owned Corient Acquires $2B Multi-Family Office

The firm announced that it reached a deal to acquire Bristlecone Advisors, a multi-family office based in Bellevue, Wash., founded in 1999. Bristlecone is a team of 10 with about $2 billion in assets under management. The firm says it specializes in financial and estate planning as well as direct investments for HNW clients.

Bristlecone is led by Kevin Berry, a partner and managing member who also serves as the Chief Compliance Officer. Berry joined the firm in 2010 after leaving Bank of America’s Merrill Lynch.

Berry said in a statement that the firm agreed to the deal after recognizing “the importance of bolstering our service offering and operational capabilities. Corient’s unique private partnership not only gives us the additional services, scale and resources to achieve that – but also a formidable bench of talent with whom we can partner and collaborate to do more for clients.”