The Colony Group’s Acquisition Of Steinberg Global Asset Management

Greenberg Traurig assisted Steinberg Global Asset Management (SGAM) with its agreement for a strategic transaction with The Colony Group, an independent, national wealth management firm.

Colony will have approximately 170 financial professionals and staff and will manage approximately $9.5 billion in client assets when the transaction closes.

SGAM, which was co-founded in 1993 by Richard Steinberg, CFA, and his father, Norman Steinberg, currently manages over $1 billion for its clients. Under the terms of the agreement and at the completion of the transaction, Richard Steinberg will become Colony’s chief market strategist, co-chair of its investment division, and a member of its executive team and Investment Committee.

The team was composed by shareholder Stephen A. Mendelsohn (Picture), shareholder Rebecca G. DiStefano and associate Laura D. Maxwell.

Involved fees earner: Rebecca DiStefano – Greenberg Traurig; Laura Maxwell – Greenberg Traurig; Stephen Mendelsohn – Greenberg Traurig;

Law Firms: Greenberg Traurig;

Clients: Steinberg Global Asset Management;

Author: Ambrogio Visconti