Carlyle has agreed to acquire a majority stake in MAI Capital Management, valuing the wealth management platform at more than $2.8bn.

The transaction marks an increase in Carlyle’s ownership following its initial investment in 2021, with existing backers including Galway Holdings, Harvest Partners, and Oak Hill Capital exiting their positions.

MAI employees will retain a significant minority stake, ensuring alignment with the firm’s long-term growth strategy.

“We’ve been partners with MAI since 2021 and have seen firsthand the strength of its platform, leadership team, and highly customized client-centric approach,” said Jim Burr, Co-Head of Global Financial Services at Carlyle, and Jitij Dwivedi, Partner at Carlyle. “We believe in the multi-decade-long industry tailwinds supporting scaled advisor-led platforms with integrated business models and holistic wealth management capabilities.”

The investment will support MAI’s next phase of growth, including expanding its advisory services, investing in talent, and enhancing client experience.

MAI provides a comprehensive platform spanning financial planning, investment management, tax advisory, retirement planning, and family office services, targeting high-net-worth and ultra-high-net-worth clients.

The firm manages and advises on approximately $72.6bn in assets, supported by a network of 40 offices across the United States.

The transaction reflects continued private equity interest in wealth management, as firms target scalable platforms benefiting from demographic trends and increasing demand for holistic financial advice.

The deal is expected to close in Q2 2026, subject to customary regulatory approvals.

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