MAI Capital Management continues its aggressive acquisition strategy with the purchase of OG Private Wealth. This deal adds $551 million in assets under management and over 300 households to the Cleveland-based firm. The O'Donnell brothers, who founded the California practice in 2012, join a national platform that has completed over 20 transactions since early 2024.
This expansion arrives as California navigates significant political pressure regarding potential wealth taxes. The acquisition marks another step in MAI Capital’s growth following the controlling interest acquired by The Carlyle Group earlier this year. MAI leadership indicates that the Carlyle partnership provides the necessary capital to target additional growth in markets such as Denver, Boston, and Chicago.
For OG Private Wealth, the merger provides institutional investment capabilities and family office resources while maintaining the firm's existing culture. The O'Donnell brothers emphasize that this move allows them to support entrepreneurs and affluent families with greater specialized expertise.
As of April 30, MAI and its affiliated advisors oversaw approximately $77.3 billion in client assets. This deal, along with the recent entry into the Atlanta market, demonstrates the firm's focus on scaling its national presence through targeted acquisitions of high-net-worth practices.