Carlyle completed its purchase of a majority stake in MAI Capital Management, gaining control of the U.S. wealth manager five years after its first investment. The transaction puts Carlyle‑managed funds in charge of the registered investment adviser, which oversees roughly $77.3bn in client assets across more than 40 offices nationwide. The deal follows backing of Galway Holdings, which bought MAI.

Harboring a minority stake, Harvest Partners and Oak Hill Capital exited alongside Galway, cashing out as Carlyle assumed control. Their departure clears the ownership table, leaving Carlyle’s funds as the dominant shareholders. With the wealth manager’s $77.3bn platform now fully under a single private‑equity banner, the firm can pursue scale‑focused initiatives without partner dissent, for growth.

Industry observers note that Carlyle’s full ownership positions MAI to integrate its advisory platform with the firm’s broader asset‑management network, potentially widening distribution channels for private‑equity products. The move also signals a trend of larger buyout houses consolidating fragmented wealth‑management businesses. As a result, MAI’s clients gain a single, well‑capitalized sponsor capable of funding technology upgrades and product expansion globally.