Carlyle Group's (CG) Global Credit platform has agreed to provide about $600 million hybrid capital investment to Prime Capital Financial, Prime Capital Financial said Thursday.
The company said the investment will support its long-term growth and expansion of its integrated wealth management platform.
As part of the deal, existing investor Abry Partners will exit its investment, the company said, adding that its leadership team, advisor-led business model and majority employee ownership structure will remain unchanged, with about 180 advisers continuing as owners.
The transaction is expected to close before Sept. 15, Prime Capital Financial said.
It added terms of the deal were not disclosed.
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