Carlyle to Acquire Majority Stake in MAI Capital Management
March 31, 2026
Carlyle has signed an agreement to acquire a majority stake in MAI Capital Management, valuing the Cleveland-based wealth management firm at more than $2.8 billion. The transaction is expected to close in Q2 2026, subject to customary closing conditions and regulatory approvals.
- Buyers
- Carlyle
- Targets
- MAI Capital Management
- Sellers
- Galway Holdings, Harvest Partners, LP, Oak Hill Capital
- Industry
- Financial Services
- Location
- Ohio, United States
- Transaction Type
- Buyout
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Related Acquisitions
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Galway Holdings Invests in MAI Capital Management
August 16, 2021
Wealth Management
Galway Holdings announced an investment in MAI Capital Management, adding a wealth and financial management vertical to Galway’s platform and enabling MAI to accelerate organic growth and M&A. MAI’s executive team will remain in place, Wealth Partners Capital Group will retain an equity stake, and Galway — backed by private equity investors including Carlyle, Oak Hill and Harvest — will integrate MAI’s services with its EPIC insurance distribution capabilities.
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MAI Capital Management Acquires Madison Wealth Management
January 8, 2024
Wealth Management
MAI Capital Management acquired Madison Wealth Management, adding approximately $1.4 billion of client assets under management and expanding MAI’s presence in Cincinnati and Northern Virginia. The Madison team will join MAI effective January 5, with Madison leaders Ed Kuresman and Jim McDermott assuming Regional President roles; terms were not disclosed.
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MAI Capital Management Acquires Carmichael Hill & Associates
December 9, 2024
Wealth Management
MAI Capital Management announced the acquisition of Gaithersburg, Maryland-based Carmichael Hill & Associates, adding approximately $350 million in client assets under management. Carmichael Hill will adopt MAI's brand and infrastructure effective December 6, 2024; Principal Jim Stewart becomes Senior Wealth Advisor & Team Leader. Turkey Hill Management advised Carmichael Hill on the transaction; terms were not disclosed.
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MAI Capital Management Acquires Bolan Capital Management
September 27, 2024
Financial Services
MAI Capital Management has acquired Bolan Capital Management, a boutique wealth management firm with $238 million in client assets under management. The terms were not disclosed; Bolan will adopt the MAI brand and founder Brian Bolan will become a Senior Wealth Advisor as the deal (effective September 27, 2024) expands MAI's footprint in the Cincinnati/Nashville region.
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MAI Capital Management Acquires Storey & Associates
October 4, 2021
Financial Services
MAI Capital Management, a Cleveland-based registered investment adviser, has acquired Storey & Associates, a North Canton, Ohio financial planning and asset management firm. The deal, which closed Sept. 30, 2021, adds approximately $230 million in assets under management and brings founders Harlan Storey and Kevin Krakora and all Storey employees into MAI; financial terms were not disclosed.
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MAI Capital Management Acquires Queens Oak Advisors
December 10, 2021
Financial Services
MAI Capital Management has acquired Queens Oak Advisors, expanding MAI's presence in the Greater Charlotte, North Carolina region and adding roughly $558 million in assets under management. The acquisition brings Queens Oak’s financial planning, estate planning and asset management capabilities into MAI’s platform and moves key advisors (including Leila Evans and Deems May) into MAI leadership roles in Charlotte.
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