Asset Management

Carlyle buys stake in Captrust as wealth manager nears $4bn valuation

Private equity spends big, hoping to cash in on baby boomers entering retirement

Private equity firm Carlyle has bought a minority stake in Captrust Financial Advisors, valuing the fast-growing wealth management firm at more than $3.7bn.

Captrust will use the funds primarily for acquisitions. The company for years has pursued an aggressive acquisition strategy that has boosted its assets under management, broadened its service offering, and expanded its geographic reach.

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