On July 1, 2021, it was announced that The Colony Group, LLC will acquire New Providence Asset Management L.P.
Under the terms of the transaction, The Colony Group, LLC (“Colony”) will acquire New Providence Asset Management L.P. (“New Providence”). The transaction is expected to close on August 1, 2021, subject to customary closing conditions. Further terms of the deal were not disclosed.
Colony, based in Boston, is a financial advisory, wealth, and business management services firm. As of March 31, 2021, Colony managed approximately $13 billion in client assets.
New Providence, based in New York, is a registered investment advisor set up as an outsourced chief investment officer specialist, focusing on endowments, family offices, and ultra-high-net worth individuals.
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