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The Colony Group acquires $2.8 billion New Providence Asset Management

yellow road sign says acquisition

The deal adds to what is already a record-breaking pace of consolidation in the RIA space, with 100 deals announced in the first six months of 2021.

The Colony Group, a $13 billion Boston-based RIA, is acquiring New Providence Asset Management, a $2.8 billion firm based in New York City.

The deal, which is expected to close Aug. 1, will give Colony a total of 16 offices and 275 team members nationwide.

Terms of the deal were undisclosed.

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