Corient to Acquire $21B Summit Trail Advisors
Corient announced it will acquire Summit Trail Advisors, a New York-based registered investment adviser managing more than $21 billion for individuals, families and institutions.
The transaction will strengthen Corient’s ultra-high-net-worth and family office capabilities while expanding its presence across major U.S. wealth markets. Financial terms were not disclosed.
Summit Trail’s principals will become Corient partners when the acquisition closes, which is expected during the third quarter of 2026.
Founded in 2015, Summit Trail provides outsourced family office and chief investment officer services. Its offerings include wealth and estate planning, investment management across public and private markets and other family office functions.
“The decision by a firm of Summit Trail’s caliber to join Corient serves as meaningful validation of our firm’s quality and the differentiated value of our private partnership structure and business model,” Corient founding partner and CEO Kurt MacAlpine said.
Summit Trail Managing Partner Jack Petersen said Corient’s partnership model and the collaboration it encourages across the organization attracted the firm to the combination.
Petersen founded Summit Trail with Dave Romhilt, Tom Palecek, John Scarborough and Peter Lee.
The acquisition continues a series of transactions by Corient as the wealth manager adds scale and expands its services for high- and ultra-high-net-worth clients.
In July, Corient agreed to acquire Seven Bridges Advisors, a New York-based multifamily office overseeing $4.9 billion. The firm previously acquired Capital Advisors, a Tulsa, Oklahoma-based RIA managing $7.8 billion.
Adding Summit Trail will increase Corient’s global client assets to approximately $556 billion. Corient describes itself as the world’s largest multifamily office and nonbank wealth manager.
Ardea Partners LP is serving as exclusive financial advisor and Seward & Kissel LLP is serving as legal counsel to Summit Trail. Goldman Sachs & Co. LLC is serving as exclusive financial advisor and Sidley Austin LLP is serving as legal counsel to Corient.