Carlyle Group to Acquire Majority Stake in MAI Capital Management

Carlyle's relationship with MAI dates back to 2021, when it first invested in the firm through Galway Holdings, which had previously acquired MAI. Upon completion of the transaction, Carlyle will take over as the majority owner, while existing stakeholders such as Galway Holdings, Harvest Partners, LP, and Oak Hill Capital will exit their positions. Notably, MAI’s employees will maintain a large minority equity interest, ensuring their continued involvement in the firm’s future.

Rick Buoncore, Chairman and CEO of MAI, expressed enthusiasm about the partnership, stating, “As we looked for a long-term partner to help us achieve our vision, Carlyle stood out for its alignment with our culture and values along with their deep industry knowledge and expertise.” Buoncore emphasized that deepening the partnership with Carlyle would facilitate expanded resources while upholding MAI’s commitment to providing exceptional client experiences.

MAI is widely recognized for its integrated platform, which includes services such as financial planning, investment management, retirement planning, tax services, and family office capabilities. The firm caters to high-net-worth and ultra-high-net-worth clients, leveraging its extensive experience and relationships within the sports and entertainment industries.

Carlyle executives, Jim Burr and Jitij Dwivedi, highlighted their confidence in MAI's robust business model and client-centric approach. They noted the favorable industry trends favoring large, advisor-led platforms and expressed eagerness to collaborate closely with MAI's leadership to drive growth while preserving the firm’s established culture.

Despite the changes in ownership structure, MAI will continue to operate autonomously. Its leadership team and strategic priorities will remain intact, allowing clients to work with the same trusted advisors and service teams, ensuring continuity and consistency in service delivery. Galway Holdings will continue to provide insurance services to clients, maintaining a connection to MAI's operations.

Stephen Carlson, President of Private Equity at Harvest Partners, acknowledged the successful journey that MAI has undertaken, which included over 30 strategic acquisitions under their guidance. He expressed confidence in MAI’s future growth trajectory with Carlyle's backing, reinforcing the notion that the firm is well-positioned to leverage its new partnership.

The acquisition is expected to close in the second quarter of 2026, pending customary closing conditions and regulatory approvals, including consent from the Division of Banking in South Dakota.

Founded in 1973, MAI Capital Management has built a reputation as a leading wealth management firm, managing and advising on $72.6 billion in total assets as of January 1, 2026, with a team of over 700 professionals across 40 offices in the United States.

Carlyle Group, on the other hand, is a global investment firm with a diverse portfolio that includes private equity, global credit, and asset management. With $477 billion in assets under management as of December 31, 2025, Carlyle aims to create value for its investors and the communities it serves.

This acquisition signals a robust confidence in MAI's potential within the wealth management sector, and with Carlyle's resources at its disposal, the firm is poised for an exciting new chapter in its operational evolution.