Corient has reached a deal to acquire Letus Private Office, a multi-family office and wealth advisory business focused on entrepreneurs, ultra-high-net-worth individuals and families in France and elsewhere in Europe.

Based in Paris, Letus was set up in 2016.

Its leadership team includes managing partners Anice Chlagou, Stephen Lasry and Alexandre Tsouli, along with partner Sacha Levy.

The firm oversees and administers about €4.1bn ($5bn).

Tsouli said: "Since our founding, our goal has been to build a different kind of family office – one that combines deep expertise with a highly personal approach to serving clients.

"With Corient, we have found a true partner who shares those values while providing extensive resources and global reach that will enable us to do more for clients. We are excited to join Corient as Partners."

Letus works mainly with ultra-high-net-worth entrepreneurs and their families. Its activities cover investment management, wealth and estate planning, financing, legal and tax assistance, and philanthropic matters.

After the transaction closes, the principals of Letus will become Corient Partners.

Corient CEO and founding partner Kurt MacAlpine said: "Letus has built a dynamic and entrepreneurial firm that is redefining what exceptional family office service looks like for successful families and business owners.

"Their talented team and deep relationships in the French market make them a perfect fit for our partnership. We are excited to welcome them to Corient."

Earlier this year, the firm completed the purchases of Stonehage Fleming and Stanhope Capital Group, giving it operations across Europe, the Middle East and Africa. Corient agreed to acquire Bedrock Group, a Geneva-based multi-family office with about $10bn in client assets.

Corient was founded in 2020. Since then, it has expanded to more than 300 partners and over 2,500 employees, with approximately $523bn under management worldwide for ultra-high- and high-net-worth individuals, families and businesses.

"Corient to buy French multi-family office Letus" was originally created and published by Private Banker International, a GlobalData owned brand.