Prime Capital Financial says 170 advisors hold equity and manage 95% of assets; Abry Partners exited in the recapitalization.
Carlyle has taken a minority stake in Prime Capital Financial, a $52 billion firm, according to our reporting.
The recapitalization marks the exit of prior backer Abry Partners, according to Prime Capital Financial.
The advisor-ownership structure remains intact, with equity held by 170 advisors who manage 95% of the firm's assets, according to Prime Capital Financial.
Reported by The Advisor's Note desk from Wealth Advisor Daily. Published . Corrections
The $52 billion firm says 95% of its assets are managed by advisors who hold equity, and prior investor Abry Partners exited in the recapitalization.
The acquisition puts two planning-heavy RIAs under a Carlyle-backed umbrella, changing the ownership math for their advisors.
Captrust says just over 68% of its more than 2,000 employees hold a stake.
The core grid stays flat, and the $150 million Elite Award becomes three categories paying a 50% premium.
Terms were not disclosed, and the Austin and Tyler offices become new Beacon Pointe locations.
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