Prime Capital Financial has entered a strategic partnership with Carlyle through an approximately $600 million hybrid capital solution that includes a minority ownership investment in the independent wealth management firm.
The transaction values Prime Capital Financial at an enterprise value of more than $1.8 billion. The investment is being made through Carlyle’s Global Credit platform.
Headquartered in Overland Park, Kansas, Prime Capital Financial has expanded significantly since 2017, growing from approximately $2.5 billion in assets under management and seven offices to nearly $50 billion in AUM across 68 offices.
During that period, the firm completed more than 30 strategic acquisitions, integrated over 50 advisory teams and generated approximately 10% annual organic growth.
Prime Capital has also broadened its offering beyond financial planning and investment management to include tax advisory, trust and estate planning, insurance, family office services, banking, alternative investments and institutional advisory capabilities.
The firm plans to use Carlyle’s long-term capital and resources to continue investing in its integrated wealth management platform and support future growth.
As part of the transaction, Abry Partners will exit its investment in Prime Capital Financial after partnering with the company since 2023.
Prime Capital’s existing leadership team and advisor-led operating model will remain in place, and the company will maintain its majority employee-owned structure. Approximately 180 advisors will continue to hold ownership interests in the firm.
The transaction is expected to close before September 15, 2026, subject to customary regulatory approvals.
William Blair, Goldman Sachs, Kirkland & Ellis, Spencer Fane and KPMG advised Prime Capital Financial. Debevoise & Plimpton advised Carlyle.
KEY QUOTES:
“Assets are the outcome. Value is the objective. Our responsibility is to create extraordinary value for clients while building a first-class environment for our teams. Carlyle shares that long-term vision, and together we believe we can build an institution that grows stronger across generations.”
Glenn Spencer, CEO of Prime Capital Financial
“Prime Capital Financial has built far more than a rapidly growing wealth management firm. It has built a differentiated institution with a distinctive culture, exceptional leadership and a compelling long-term vision.”
Gary Jacovino, Partner at Carlyle Global Credit
