Carlyle, Bain in race to buy Wealth Enhancement for $7bn – report

Kuldeep Jha

Mon, July 27, 2026 astatine 5:17 AM CDT 2 min read

Carlyle and Bain Capital are successful contention to get Wealth Enhancement successful a woody that could worth the wealthiness absorption level astatine astir $7bn including debt, the Financial Times has reported.

Wealth Enhancement oversees astir $160bn successful lawsuit assets, according to the report. Its backstage equity owners, TA Associates and Onex, person enactment the concern up for sale.

The 2 firms are present the last bidders successful the process aft different contenders dropped out, radical acquainted with the substance told the FT.

The merchantability comes arsenic backstage equity groups proceed to prosecute autarkic wealthiness absorption firms, which person seen beardown woody enactment successful caller years.

Wealth Enhancement is simply a registered concern adviser, oregon RIA. These firms vie with banks by advising affluent individuals and concern owners connected investments successful speech for fees.

The assemblage has attracted backstage equity involvement due to the fact that of its recurring revenues and comparatively unchangeable lawsuit relationships.

Under TA Associates and Onex, Wealth Enhancement has expanded done acquisitions. Since past year, it has bought astatine slightest six smaller RIAs arsenic portion of efforts to physique scale.

The institution is among the larger autarkic wealthiness managers backed by backstage equity and has been portion of a wider consolidation inclination crossed the industry.

Other notable deals successful the assemblage see Mubadala Capital's $8.8bn take-private acquisition of CI Financial past twelvemonth and Clayton Dubilier & Rice's $7bn buyout of Focus Financial Partners successful 2023.

More caller investments see Advent International's number involvement successful Fisher Investments and TPG's concern successful Creative Planning.

According to the FT, TA and Onex hired Evercore successful caller months to tally the merchantability process for Wealth Enhancement.

The process is astatine an precocious stage, though determination is nary certainty it volition effect successful a transaction.

The existent owners could inactive determine to support the business.

Carlyle and Bain declined the FT's petition to comment.

Wealth Enhancement, TA, Onex and Evercore did not respond to requests for comment.

"Carlyle, Bain successful contention to bargain Wealth Enhancement for $7bn – report" was primitively created and published by Private Banker International, a GlobalData owned brand.