Carlyle has announced the completion of its previously announced acquisition of a majority stake in MAI Capital Management, with the deal closing effective June 4, 2026. The transaction deepens a relationship that began in 2021 when Carlyle entered MAI’s ownership structure through its investment in Galway Holdings, which acquired MAI that year. With the close of the transaction, Galway Holdings and funds managed by Harvest Partners and Oak Hill Capital have exited their positions. MAI employees will continue to hold a large minority equity ownership position in the company.
Founded in 1973 and headquartered in Cleveland, MAI is a registered investment adviser and wealth management firm with more than 40 offices across the United States, a team of more than 700 people, and approximately $77.3 billion in combined client assets managed or advised as of April 30, 2026. The firm serves clients through objective advice, tailored planning, comprehensive solutions, and personalized service, with a focus on helping clients simplify, protect, and grow their wealth. As majority owner, Carlyle said it will support MAI’s continued growth through investments in technology and strategic acquisitions while maintaining the firm’s leadership team, culture, and operational independence.
The transaction was supported by an experienced advisory team. Ardea Partners served as exclusive financial advisor to MAI, with Kirkland & Ellis as legal counsel to Harvest Partners and MAI. Houlihan Lokey served as financial advisor to Carlyle, with Simpson Thacher & Bartlett as Carlyle’s legal counsel. Carlyle manages $475 billion in assets under management as of March 31, 2026, across global private equity, global credit, and Carlyle AlpInvest.
KEY QUOTES:
“Having worked with the Carlyle team for five years, we have seen firsthand what they bring to the table. Their support will allow us to continue investing in the business and pursuing growth opportunities, all while staying true to the culture and client-first approach that has defined MAI since inception. Our goal has always been to build what we believe to be the best wealth management firm in the industry, and now with Carlyle’s backing, we have the expertise and resources to pursue that goal with even greater momentum.”
Rick Buoncore, Chairman and CEO, MAI Capital Management
“Our partnership with MAI over the past several years has reinforced our conviction in the firm’s differentiated platform, leadership team and long-term growth opportunities. We look forward to continuing our work with Rick and the broader management team as the firm evolves and expands its capabilities.”
Jim Burr, Co-Head of Global Financial Services, and Jitij Dwivedi, Partner, Carlyle
