PAI Partners to acquire a majority stake in Cyrus Group.

PAI Partners, a private equity firm, agreed to acquire a majority stake in Cyrus Group, independent wealth management brand in France. Financial terms were not disclosed. “This transaction is part of a clear ambition: to profoundly transform the private banking and wealth management market. With our project to partner with PAI, we are affirming our commitment to creating a strong brand and establishing Cyrus in the wealth management landscape through a new “non-banking” segment. Cyrus is entering a new phase of consolidation in the accelerating private wealth management market and the convergence of wealth management with family offices,” Meyer Azogui and Patrick Ganansia, Cyrus Group Co-Presidents.