Carlyle to Acquire MAI Capital Majority Stake in $2.8B Deal for $67B AUM
Carlyle Group agreed to become MAI Capital’s majority owner at a $2.8 billion valuation, taking control of a wealth adviser overseeing $67 billion in assets under management. It follows a rush of 466 wealth management acquisitions in 2025, up 27% as firms chase ultra-high-net-worth capital.
1. Carlyle Acquires Majority Stake in MAI Capital
Carlyle Group agreed to purchase a majority equity stake in MAI Capital Management at a $2.8 billion valuation, gaining control of the Cleveland-based adviser. MAI Capital oversees $67 billion in assets under management and offers financial planning, investment management, retirement planning, tax services, family office capabilities and institutional consulting.
2. Rampant Deal Activity in Wealth Management
The transaction is part of a broader surge that saw 466 wealth management acquisitions in 2025, a 27% increase from 2024, while $1 billion-plus deals rose from 140 to 185. Private equity firms and wealth advisers are bulking up to capture the growth of ultra-high-net-worth capital and diversify fee-generating sources.
3. Strategic Rationale and Growth Outlook
Carlyle CEO Harvey Schwartz has prioritized the wealth channel to access fee-generating capital outside tapped institutional markets. The firm’s expanded stake in MAI Capital complements its investment in Captrust Financial Advisors and positions Carlyle to offer holistic advisory services integrated with private asset classes.