Hoping to capitalize on the boom in serving the superrich, State Street Corp. said Thursday it had agreed to buy a majority stake in Bel Air Investment Advisors LLC for $217 million in cash and stock.

With 28 employees and $3.7 billion of assets under management, Los Angeles-based Bel Air manages the personal portfolios of 200 ultrawealthy clients, among them the celebrities Barbra Streisand, Lee Iacocca, and Geraldo Rivera.

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