Investment expands upon relationship formed in 2021, providing MAI with the resources and strategic backing to accelerate growth

MAI Capital Management ("MAI"), a registered investment advisor ("RIA") focused on empowering clients to simplify, protect and grow their wealth, today announced the completion of the previously announced transaction in which funds managed by global investment firm Carlyle (NASDAQ:CG) have acquired a majority stake in the company. The deal closed effective June 4, 2026.

Carlyle entered MAI's ownership structure in 2021 through its investment in Galway Holdings, which acquired MAI that year. As majority owner, Carlyle will support MAI's continued growth, including investments in technology and strategic acquisitions, while maintaining the firm's leadership team, culture and operational independence. MAI employees will continue to hold a large minority equity ownership position in the company.

"Closing this transaction marks the start of something we have been building toward for a long time," said Rick Buoncore, Chairman and CEO of MAI. "Having worked with the Carlyle team for five years, we have seen firsthand what they bring to the table. Their support will allow us to continue investing in the business and pursuing growth opportunities, all while staying true to the culture and client-first approach that has defined MAI since inception. Our goal has always been to build what we believe to be the best wealth management firm in the industry, and now with Carlyle's backing, we have the expertise and resources to pursue that goal with even greater momentum."

With the close of the transaction, Galway Holdings and funds managed by Harvest Partners, LP and Oak Hill Capital have exited their positions.

Jim Burr, Co-Head of Global Financial Services at Carlyle, and Jitij Dwivedi, Partner at Carlyle, said, "Our partnership with MAI over the past several years has reinforced our conviction in the firm's differentiated platform, leadership team and long-term growth opportunities. We look forward to continuing our work with Rick and the broader management team as the firm evolves and expands its capabilities."

Ardea Partners LP served as exclusive financial advisor to MAI. Kirkland & Ellis, LLP served as legal counsel to Harvest Partners and MAI. Houlihan Lokey served as financial advisor to Carlyle and Simpson Thacher & Bartlett LLP served as Carlyle's legal counsel.

About MAI Capital Management

MAI is a registered investment adviser and wealth management firm unified in purpose to empower clients to simplify, protect, and grow the wealth they have worked so hard to build. Founded in 1973, the firm helps clients achieve their vision and goals through objective advice, tailored planning, comprehensive and integrated solutions, and highly personal service.

As of April 30, 2026, MAI and its affiliated investment adviser have more than 40 offices across the United States, a team of more than 700 people, and approximately $77.3 billion in combined client assets managed or advised*.

For more information, visit www.mai.capital or MAI's company page on LinkedIn.

*Combined client assets consist of MAI's regulatory assets under management ("RAUM"), including assets managed by an affiliated adviser and assets at that affiliated adviser that are in the process of transitioning to MAI. MAI reports its RAUM in Form ADV Part 1A, which may not yet reflect all transitioning assets. In addition, approximately $6 billion represents assets under advisement, which are not included in RAUM. This combination is presented for informational purposes only and should not be considered a substitute for MAI's reported RAUM.

About Carlyle

Carlyle (NASDAQ:CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit, and Carlyle AlpInvest. With $475 billion of assets under management as of March 31, 2026, Carlyle's purpose is to connect people, ideas, and capital to fuel growth for companies and performance for investors. Carlyle employs more than 2,500 people in 28 offices across four continents. Further information is available at www.carlyle.com. Follow Carlyle on X @OneCarlyle and LinkedIn at The Carlyle Group.

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Carlyle Completes Acquisition of Majority Stake in MAI Capital Management