**Summary**
Caledonia Investments PLC has agreed to sell its minority interest in Stonehage Fleming Family & Partners Limited, a leading multi-family office, to Corient Private Wealth LLC. The transaction, expected to complete in the first half of 2026, is subject to regulatory approvals. Caledonia will receive approximately £288 million in cash proceeds, with £251 million at closing and the remainder in two tranches over the following 12 months. This represents a 3.2 times multiple on invested cost. Additionally, up to £9 million in contingent consideration may be payable based on Stonehage Flemings revenue growth over the next three years.
Caledonias investment in Stonehage Fleming since 2019 has supported its growth into the largest independent multi-family office in the EMEA region, with operations in 14 countries and oversight of assets exceeding US$175 billion. Both Caledonia and Stonehage Fleming leadership expressed satisfaction with the partnership and optimism for Stonehage Flemings future growth under Corients ownership. The proceeds from the sale will be held by Caledonia for future investments.