Boston Private, the US wealth manager, has increased its stake in Coldstream Capital Management, a multi-client family office that provides wealth management services to high net worth private clients in the Pacific Northwest, to 46 per cent.

Coldstream has offices in Bellevue, Washington State, and Portland, Oregon, and remains an unconsolidated affiliate partner of Boston Private within the Boston Private Wealth Management Group.

Boston Private made an initial investment in Coldstream in December 2002, and owned 27.5 per cent as of 30 September 2007.

Coldstream managing director Kevin Fitzwilson said: "It has been five years since we joined the Boston Private Wealth Management family and during that period we have grown our assets approximately three times to $1.2 billion. We see significant opportunities to enhance our growth and build an even stronger business focusing on the high net worth and business communities.”

Boston Private has 14 operating affiliates that focus on private banking, investment management and financial planning in six regions across the US – New England, New York, Florida, the Pacific Northwest, Northern California and Southern California. The firm makes capital resources available to its member firms and works with them on growth strategies, marketing, leadership development, compliance and technology.

Boston Private president Walter Pressey said: "We are delighted to take advantage of the opportunity to increase our investment in Coldstream Capital Management. Our interest in Coldstream, combined with our recent acquisition of Charter Bank, underscores our commitment to developing strong partnerships with the best wealth managers and private bankers in regions with very strong demographics.”