The new investment strengthens MAI's capital base, supports advisors, and provides continuity for clients and teams

MAI Capital Management("MAI"), a registered investment advisor ("RIA") focused on empowering clients to simplify, protect, and grow their wealth, today announced that it has signed an agreement for funds managed by global investment firm Carlyle (NASDAQ:CG) to acquire a majority stake in the company, valuing it at more than $2.8 billion. Carlyle initially invested in MAI in 2021 through its investment in Galway Holdings, which acquired MAI that year, and will become the majority owner upon closing, with Galway Holdings, funds managed by Harvest Partners, LP ("Harvest Partners"), and Oak Hill Capital exiting their positions. MAI employees will continue to hold a large minority equity ownership.

As majority owner, Carlyle will provide MAI with the resources to continue investing significantly in its people, capabilities, and client experience. Carlyle will support MAI in expanding its services, while maintaining the firm's leadership, culture, operational independence, and the continuity advisors and clients have come to expect.