MAI Capital Management said on 30 March that funds managed by Carlyle had agreed to acquire a majority stake in the Cleveland-based registered investment adviser, valuing it at more than $2.8bn.
Why Carlyle is buying MAI Capital Management (majority stake)
Carlyle's Jim Burr and Jitij Dwivedi cited multi-decade tailwinds for scaled, advisor-led wealth platforms with integrated business models. MAI chairman and chief executive Rick Buoncore said Carlyle stood out for its cultural alignment and industry expertise.
Deal terms and financing
Carlyle first invested in MAI in 2021 through Galway Holdings. On closing, Galway, funds managed by Harvest Partners and Oak Hill Capital exited, while MAI employees kept a large minority holding. Financial terms beyond the valuation were not disclosed.
Regulatory approvals and timing
Closing required customary approvals, including consent from South Dakota's Division of Banking. Carlyle completed the acquisition effective 4 June 2026.
Market context
MAI, founded in 1973, has more than 40 US offices and about $77.3bn of client assets managed or advised as of 30 April 2026. Harvest Partners said MAI completed more than 30 acquisitions during its ownership.
