M&A
Editorial writing on M&A from The Family Office Almanac.
AlphaCore buys a $5bn family office and keeps it out of the investment business
AlphaCore Wealth Advisory has acquired Streamline Family Office and will run it as a separate, deliberately non-advisory affiliate that continues to serve rival wealth managers.
Michael Dell's family office backs a $7.7bn take-private of insurance broker Baldwin
DFO Management and Sequence Holdings have agreed to acquire The Baldwin Group in an all-cash deal valued at about $7.7bn, one of the largest public-to-private transactions led by a single family office.
Jyske Bank buys Formuepleje. Denmark has one fewer large independent manager.
On 2 September 2026 Jyske Bank agreed to acquire Formuepleje, a DKK 40bn Danish wealth manager, for an undisclosed price. The figures all come from the buyer, and the questions that matter to clients are the ones neither party has answered.
JTC leaves the London market in a £2.7bn take-private, two months after absorbing Citi Trust
Permira and CPP Investments completed their acquisition of the Jersey trustee on 1 September. For the families whose structures JTC administers, the ownership of their trustee has now changed twice in fourteen months.
Victory Capital buys First Eagle for $7 billion. The manager stays; the owner changes.
Genstar Capital is selling the $222 billion manager to a listed consolidator funded by a $3.5 billion term loan. For families holding the funds, the questions are consents, leverage and what $280 million of synergies touches.
Vanguard buys Altruist, and the adviser's custody platform becomes a fund manager's
Vanguard agreed on 26 August to acquire the RIA custody and technology platform it first backed in 2020. Reported prices run from $4bn to $4.6bn against a $1.9bn valuation at Altruist's last funding round.
EFG sells its Midlands business to Canaccord and puts its UK arm on HNW and UHNW clients only
Canaccord Wealth has agreed to acquire the front office teams and client assets of EFG Harris Allday, a 175-year-old Midlands wealth manager with £3.1 billion under management. EFG says its UK region will now serve high and ultra-high net worth clients.
BKL buys music accountancy firm Dales Evans, its fifth deal since taking private equity money
London advisory firm BKL has acquired Dales Evans, a specialist music, media and entertainment accountancy practice. It is BKL's fifth acquisition since CBPE invested in 2023, and another boutique adviser absorbed into a backed consolidator.
Carlyle takes a minority stake in Prime Capital Financial at a $1.8 billion valuation
Carlyle's credit arm is putting roughly $600 million into the Kansas wealth manager as Abry Partners exits, the latest sign of private capital buying into firms that serve wealthy families.
Corient buys $21bn Summit Trail Advisors, pulling more outsourced family office work into its orbit
Corient has agreed to acquire Summit Trail Advisors, a New York RIA with $21 billion in client assets and an ultra-high-net-worth focus, adding outsourced family office and CIO services as the Miami firm's run of large deals continues.
Franklin Templeton reported in talks to buy AlTi Global, the $90bn UHNW wealth manager
Citywire reports that Franklin Templeton is in talks to acquire AlTi Global, the Nasdaq-listed multi-family office group with around $90 billion in assets. Neither firm is commenting. A deal would take wealth consolidation into the top tier of UHNW advice.
Corient adds New York's Seven Bridges Advisors as multi-family office roll-up continues
Corient has agreed to buy Seven Bridges Advisors, a $4.9bn New York multi-family office, in the latest of a run of deals building the Miami firm into the largest player of its kind.
Carlyle and Bain Capital reach the final round for $160bn Wealth Enhancement
Two of private equity's largest firms are the last bidders for Wealth Enhancement Group, a US adviser with roughly $160bn in client assets, in a deal reported at about $7bn that would rank among the sector's biggest.
Wealth management consolidation: should I stay or should I go?
Corient has bought a boutique multi-family office almost every month this year. As consolidators roll up the independents families once chose for their independence, the question for principals is what they actually own.
Sawiris family office crosses majority control of OCI Global
NNS Holding, the private family office of Egyptian billionaire Nassef Sawiris, has lifted its combined stake in OCI Global above 55% as its all-cash bid to take the chemicals group private advances.
Caprock buys $4bn Venturi Private Wealth in second-ever acquisition
The Boise-based multi-family office is adding an Austin firm with about $4 billion in assets, its first purchase since the 2024 Grey Street Capital deal.
Callan Family Office takes a stake in estate-planning software firm Vanilla
A US multifamily office has made a strategic investment in estate-planning technology firm Vanilla, with a joint roadmap aimed at the complex structures that standard planning software struggles to model.
What we are reading about family offices
No noise, no selling. A measured take on what's moving across family offices and private wealth.