Growing trend of asset management acquisitions, Carlyle to acquire majority stake in MAI Capital Management for $2.8 billion

Carlyle Group (NASDAQ: CG) has signed an agreement to acquire a majority stake in MAI Capital Management, valuing the wealth management firm at more than $2.8 billion. The transaction is expected to close in the second quarter of 2026, subject to regulatory approvals.

Carlyle initially invested in MAI in 2021 through its investment in Galway Holdings, which acquired MAI that year. Upon closing, Carlyle will become the majority owner while current investors Galway Holdings, Harvest Partners and Oak Hill Capital will exit their positions. MAI employees will continue to hold a large minority equity ownership.

MAI Capital Management, founded in 1973, operates as a registered investment advisor with 40 offices across the United States. The firm manages and advises on $72.6 billion in total assets as of January 1, 2026, serving high-net-worth and ultra-high-net-worth clients through services including financial planning, investment management and family office capabilities.

“As we looked for a long-term partner to help us achieve that vision, Carlyle stood out for its alignment with our culture and values along with their deep industry knowledge and expertise,” said Rick Buoncore, Chairman and CEO of MAI.