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.
Law Firms: Greenberg Traurig;
Clients: Steinberg Global Asset Management;