Carlyle to Acquire MAI Capital Majority Stake at $2.8 Billion Valuation
Private equity firm Carlyle will acquire a majority stake in MAI Capital Management, the $72.6 billion‐asset RIA, in a transaction valuing it at over $2.8 billion and closing in H2 2026. Harvest Partners and Oak Hill Capital will exit, and CEO Rick Buoncore will roll over all his equity.
1. Deal Terms
Private equity firm Carlyle has agreed to acquire a majority stake in MAI Capital Management, the Cleveland-based registered investment advisor overseeing $72.6 billion in assets, in a deal valuing MAI at over $2.8 billion. The transaction, which sees Harvest Partners and Oak Hill Capital exit, is scheduled to close in the second half of 2026.
2. Management Rollover and Governance
Founder and CEO Rick Buoncore will roll over 100% of his equity, while select senior executives will cash out 20% and retain 80%. Upon closing, Carlyle will secure board seats and collaborate with MAI’s leadership team to guide future growth.
3. Strategic Rationale
Carlyle’s majority acquisition follows its 2021 minority investment via Galway Holdings, when MAI managed $9.2 billion in assets, and underscores its commitment to the RIA sector. MAI’s acquisition of Evoke Advisors last year boosted its service offerings for ultra-high-net-worth clients and supports growth under private equity backing.