CI Financial’s Corient Sells Stake in $7.2B RIA OCM Capital Partners

Canadian investment firm CI Financial has disclosed that its US wealth management subsidiary Corient Capital Partners divested its stake in OCM Capital Partners. 

The transaction, which closed on November 8, shaved off $7.2B of OCM assets from Corient’s total AUM, though CI Financial retains an undisclosed minority stake in the Westlake Village, CA-based RIA, according to OCM’s December 11 Form ADV filing. CI Financial did not disclose the buyer, nor did it provide any terms or additional details on the transaction. 

CI Financial acquired a majority interest in OCM in 2019, which at the time managed $1.6B in client assets, before later acquiring Corient, which was backed by Merchant Investment Management and had $5B in AUM at the time of the deal in 2022. CI Financial’s US wealth advisory platform, CI Private Wealth, was subsequently rebranded and merged with Newport Beach, CA-based Corient.

CI Financial said that as of November 30, it manages CA$532.7B (~$369B) in aggregate assets, including $254.9B from the US.