Bain Capital Takes Minority Stake in Osaic in $3.7B Capital Raise

Osaic, one of the nation’s largest wealth management platforms, has secured a minority investment from Bain Capital as part of a $3.7 billion capital raise, according to published reports. The deal marks a significant development for the firm, formerly known as Advisor Group, as it finalizes an organizational restructuring and positions itself for a potential move into public markets.

Bain Capital’s investment provides the firm with deep-pocketed institutional backing as it works to integrate its sprawling network of more than 11,000 financial professionals. The exact size of Bain’s stake was not disclosed.

Reverence Capital Partners, which acquired Osaic from Lightyear Capital in 2019, remains the majority owner. Jamie Price, chief executive officer of Osaic, noted that the firm’s growth has drawn interest from institutional investors.

The multibillion dollar capital infusion follows Osaic’s effort to merge its eight separate broker-dealer brands – including Royal Alliance and SagePoint – under a single brand and platform. This consolidation was designed to streamline infrastructure, moving all advisers onto a single, unified technology and compliance platform; and reduce back-office redundancies.

The firm has also launched a new W-2 employee channel, which has attracted more than $5.7 billion in client assets.

The capital raise comes as Osaic continues to recruit advisory teams. In early 2026, the firm added Gardner Wallace Financial Solutions, a $464 million team, and Bard Financial Services, a $1.2 billion Connecticut-based firm.

Industry analysts have characterized the scale of the raise and Bain Capital’s involvement as consistent with preparations for a potential initial public offering.

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