On May 31, 2024, Corient Private Wealth LLC announced that it had acquired Socius Family Office, LLC.
Corient Private Wealth LLC (“Corient”) announced on May 31, 2024, that it acquired Socius Family Office, LLC (“Socius”). That transaction was structured as a preferred equity sale that will give the investors a larger stake in Corient via a payment-in-kind function if the company fails to grow its enterprise value by 14.5% or more annually. Further terms of the transaction were not disclosed.
Corient, based in Miami, is a wealth management company offering retirement, tax, estate, insurance, philanthropic, succession, business exit, and financial planning services. As of March 2024, Corient had $164 billion in assets under management.
Socius, based in Fort Lauderdale, Florida, is an registered investment advisory firm providing wealth management, asset allocation, risk tolerance, financial planning, and quantitative analysis services. As of December 2023, had $915 million in assets under management.
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