The Vistria Group, a private-equity firm with holdings across the financial services sector, is taking a majority stake in Curi Capital, a Chicago-based registered investment advisor firm with more than $14 billion in client assets under advisement. The deal is expected to close in late September.

Curi's existing shareholders, including its employee partners, will retain partial ownership stakes. Wealth Partners Capital Group, the holding company that is a part owner of Curi, will also retain an undisclosed stake. In addition to Curi, Wealth Partners owns stakes in large RIAs such as MAI Capital Management, Waverly Advisors, and Apella.

Curi says it will use the investment to expand its workforce, improve its technology infrastructure, and pursue acquisitions.

"From our first conversations with Vistria, it was clear we shared a common philosophy about serving clients, supporting employees, and building a business for the long term," says Curi Capital CEO Dimitri Eliopoulos.

The move continues the flood of private-equity money into the wealth management space, with most of the major national acquirers tapping into investments from outside firms to finance their expansion. Curi's major acquisition came in January 2024 when it completed the combination with RMB Capital, which at the time oversaw $9.6 billion in assets. Curi ranked No. 55 on Barron's 2025 list of top RIA firms.

Vistria's portfolio of financial services companies includes the Mather Group, an RIA with more than $17 billion in client assets. It also holds stakes in companies in insurance, employee benefits, and small-business financing.

Medical specialty. Curi's wealth operation caters to clients across the wealth spectrum with a particular expertise in serving medical professionals and healthcare executives. Some of its clients have modest portfolios while others are ultrawealthy, multigenerational families with complex financial needs. That versatility was a selling point for Curi's new financial backer.

"What stood out to us about Curi Capital was not only the quality of the business, but the culture behind it," says Boris Rapoport, senior partner and co-head of financial services at Vistria. "The firm's ability to serve clients across the wealth spectrum, from a dedicated mass-affluent offering to a family office practice built over decades for multigenerational families, is exactly the kind of durable, full-service platform we look to back."