On November 2, 2020, Focus Financial Partners Inc. announced that it had entered into an agreement to acquire CornerStone Partners LLC.
Under the terms of the agreement, Focus Financial Partners Inc. (“Focus”) will acquire CornerStone Partners LLC (“Cornerstone”). The transaction is subject to customary closing conditions and is expected to close in the fourth quarter of 2020. Terms of the deal were not disclosed.
CornerStone is a registered investment advisor headquartered in Charlottesville, Virginia that offers outsourced chief investment officer and investment office services to institutional clients. These services include portfolio management, asset allocation, risk management, investment policy statement review and administrative services. Colchester Partners served as financial advisor to CornerStone on the transaction.
Focus (Nasdaq: FOCS), based in New York, is an independent partnership to fiduciary wealth management firms that provides resources and services to its partner firms.
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