Corient Enters Cayman Islands with Acquisition of $2.6B Wealth Manager

Registered investment advisor Corient has acquired a multi-family office in the Cayman Islands, marking the RIA’s initial entry into the market. 

Grand Cayman-based FortCay Family Advisory, which was founded in 2023, by managing director Billy Harty and chairman Matt Houghton, offers wealth management services, including investment management, estate planning, philanthropic planning and family office services. 

FortCay was also co-founded by Hank Swartout and Blake Ducharme, and includes about seven staff members, according to the firm’s website. 

“From the start, we felt that Corient shared our high standards and commitment to putting clients first,” Harty said. “Their partnership model gives us access to the depth and scale of a global firm while creating new opportunities for our clients. We’re excited about what lies ahead.” 

The acquisition, which is set to close in the fourth quarter of this year, marks Corient’s tenth transaction for the year. 

Specific financial terms of the deal were not disclosed. 

While Corient’s latest acquisition represents its first deal in the Caribbean, Corient has already entered into the international space, following its acquisition of two U.K.-based financial advisory firms, which added $214 billion in combined client assets, as the RIA marks its global expansion into Europe, the Middle East, and Africa. 

The multi-billion-dollar deal comes a little over a month after Corient acquired New York-based RIA Summit Trail Advisors, which manages more than $21 billion for individuals, families and institutions. The transaction is expected to close in the third quarter of this year. 

Miami-based Corient Private Wealth, founded in 2020, has more than 2,700 employees overseeing a total of about $572 billion in assets under management.