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June 29, 2022

MAI Capital Management expands Cleveland reach with Winfield deal

MAI Capital Management has expanded its financial planning and investment teams at its headquarters in Cleveland with the acquisition of Winfield Associates.

Free Report
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2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

Financial terms of the deal were not disclosed. The acquisition, which closed on 24 June 2022, increases MAI’s assets under management by over $368m.

Founded in 1997, the acquired entity offers a range of financial advice, customised investment portfolios and private wealth services for its customers.

The firm primarily caters to the needs of individual investors, endowments and foundations, business owners and professionals, and retirees.

As part of the transaction, Winfield co-founder Christopher Baker and senior executive Mark Haley will join MAI as managing directors and partners.

Baker and Haley said: “Our clients are our top priority, and we are committed to delivering comprehensive support and strategies that advance their financial goals.

“Partnering with MAI allows us to continue to deliver this level of service, while enhancing the technology, resources and solutions we offer our clients.”

The deal marks MAI’s sixth acquisition since securing strategic investment from financial service Galway in last September.

The firm is leveraging its partnership with Galway for ongoing and strategic growth through M&A and organic activity and expand its client service offerings.

Earlier this year, MAI took over Monarch Business & Wealth Management located in New York City.

Commenting on the deal, MAI managing partner Rick Buoncore said: “We are proud that MAI is regarded for personalised service and a steadfast commitment to our clients.

“Christopher, Mark and the entire Winfield team share this perspective, further empowering our team and extending our reach to additional clients. We are excited to welcome them to the MAI team.”

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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