Simpson Thacher is representing affiliates of Carlyle in its agreement to acquire a majority stake in MAI Capital Management, valuing it at more than $2.8 billion. The transaction is expected to close in the second quarter of 2026, subject to customary closing conditions and regulatory approvals, including the consent of the Division of Banking in South Dakota.
MAI is a registered investment adviser and wealth management firm focused on empowering clients to simplify, protect, and grow their wealth, with $72.6 billion in total assets as of January 1, 2026.
The Simpson Thacher team included Ravi Purushotham, Jeffery MacDonald, Surya Banerjee, Tris Cox, and Diobel Rodriguez (FIG M&A); Andrew Blau, Matthrew Behrens and Maggie Wang (ECEB); Meredith Abrams, Raymond Jensen and Margaret Foster (Investment Advisory); Benjamin Rippeon, Nancy Mehlman, Adam Hersch and Jemma Li (Tax); Katherine Reaves, Elizabeth Kates and Caroline Tompkins (Credit); Caroline Geiger, Tally Smitas and Corina DeFeo (IP); Krista McManus (Real Estate); Erica Rozow and George Gerstein (ERISA); Steven DeLott (Insurance); and Spencer Sloan (Trust Company Regulatory).