Private investment major Carlyle has agreed to acquire a controlling stake in MAI Capital Management, in a transaction that values the US-based wealth manager at more than $2.8bn, according to a report by Reuters.
The deal builds on Carlyle’s existing relationship with MAI, which dates back to 2021 through its investment in Galway Holdings, the insurance platform that subsequently acquired the firm.
The latest transaction is expected to provide MAI with additional capital to accelerate growth and broaden its capabilities across the wealth management sector, particularly as demand increases for integrated advisory platforms serving high-net-worth and family office clients.
Carlyle highlighted long-term structural drivers supporting the wealth management industry, including the shift towards scaled, adviser-led businesses offering comprehensive financial solutions.
Founded in 1973, MAI Capital Management has evolved into a large independent wealth manager, delivering investment management and financial planning services to affluent and ultra-wealthy individuals. The firm reported approximately $72.6bn in assets under management and advisement at the start of 2026.
As part of the transaction, existing investors including Galway Holdings, Harvest Partners and Oak Hill Capital will exit their stakes. The deal is anticipated to complete in the second quarter of 2026.
Advisory support for the transaction was provided by Ardea Partners on behalf of MAI, while Carlyle was advised by Houlihan Lokey.
