MAI Capital Management, a Cleveland-based registered investment adviser managing $12.2 billion, has acquired Queens Oak Advisors, a Charlotte, North Carolina-based RIA managing $558 million.
Terms of the acquisition were not disclosed. This was MAI's third deal since it was acquired by Galway Holdings in September.
Queens Oak was founded in 2009. Its principals, Leila Evans and Deems May, a former NFL player and NFL Players’ Association representative, will join MAI.
This article originally stated the assets under management of Queens Oak Advisors at $578 million and has been updated.
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