PAI Partners, a global private equity firm with over €28 billion in assets under management, announced that it has entered into exclusive negotiations to acquire a majority stake in Cyrus Group, one of France’s leading independent wealth management firms.
The proposed deal would establish a strategic partnership between PAI and the Cyrus management team, which plans to reinvest significantly in the company.
Cyrus, founded over three decades ago, manages more than €20 billion in assets and serves over 30,000 institutional and private clients. The company operates across more than 25 offices in France and abroad, with more than 500 workers and a reputation for personalized, high-end wealth management services. Its subsidiaries include Cyrus Herez (wealth management), Amplegest (asset management), and Eternam (real estate), with a pending AMF application for its private equity unit, Flandrin.
The partnership with PAI is expected to help Cyrus accelerate its growth across France and Europe, focusing on organic expansion, increased product distribution, and targeted acquisitions to strengthen its market position. The firm’s diversified service model, which combines open architecture with a broad product portfolio, provides the foundation for sustainable expansion in the rapidly evolving private wealth management sector.
PAI Partners brings decades of experience in scaling business services firms within the “Real Economy.” The firm has a strong history of collaborating with management teams to transform companies into leading European and global players. Through this transaction, PAI aims to leverage that experience to position Cyrus as the foremost independent wealth management brand in France and to extend its leadership internationally.
The proposed acquisition also marks an exit for Bridgepoint, which has held a minority stake in Cyrus since 2020. Over the course of their five-year partnership, Bridgepoint supported the group’s strategic transformation, helping it quadruple assets under management from €4 billion to over €20 billion and strengthen its integrated wealth management model.
Cyrus’s leadership views the proposed deal as a pivotal step toward reshaping the wealth management landscape in Europe. The firm intends to establish a “non-banking” segment that merges the agility of independent advisory firms with the scale of institutional players.
The deal remains subject to regulatory approvals and is expected to close in the second quarter of 2026.
KEY QUOTES:
“This transaction is part of a clear ambition: to profoundly transform the private banking and wealth management market. With our project to partner with PAI, we are affirming our commitment to creating a strong brand and establishing Cyrus in the wealth management landscape through a new ‘non-banking’ segment. Cyrus is entering a new phase of consolidation in the accelerating private wealth management market and the convergence of wealth management with family offices.”
Meyer Azogui and Patrick Ganansia, Co-Presidents, Cyrus Group
“Cyrus has established itself as the leading independent wealth management brand in France. We are delighted by our project to partner with Meyer Azogui, Patrick Ganansia and the management team to pursue sustainable organic growth, establish Cyrus as the leading brand in the market, and strengthen the platform through targeted consolidation opportunities in France and Europe. This proposed acquisition illustrates PAI’s strategy of partnering with fast-growing companies in the Real Economy.”
Frédéric Stévenin, Co-Managing Partner, and Guillaume Leblanc, Partner, PAI Partners
