Perspectives & Commentary

Avalon produces a variety of investment commentaries.

Our perspectives and quarterly commentary are issued throughout the year and cover a range of investment-related topics.

News | Press

The Carlyle Group has Completed the Sale of a Portion of its Equity Interest in Avalon Advisors to The Cynosure Group

October 1, 2015

Deal Value: Undisclosed


Global alternative asset manager The Carlyle Group (NASDAQ: CG) completed the sale of a portion of its equity interest in Avalon Advisors, LLC (“Avalon Advisors”) to The Cynosure Group, LLC (“The Cynosure Group” or “Cynosure”). The investment in Avalon Advisors was made through Carlyle Global Financial Services Partners L.P., which will retain a material equity stake in Avalon Advisors following this transaction.

In a related endeavor, The Cynosure Group is collaborating with Avalon Advisors on the opening of a new firm based in Salt Lake City to provide comprehensive wealth management services to high net worth families, foundations and other organizations in the intermountain west region. Cynosure believes that partnering with Avalon Advisors will position it to deliver competitive long-term investment advisory services to its target market with uncompromising levels of integrity.


Founded in 2001, Houston, TX-based Avalon Advisors has approximately $6 billion in assets under management. The firm’s mission is to provide superior investment management and differentiated investment advice to its clients by combining the in-house talents of nationally recognized investment managers with experienced client advisors.


The Cynosure Group is a Salt Lake City, Utah-based firm that works with significant family offices to make long-term equity investments in private companies. Cynosure has expertise in financial services,

industrials, healthcare, natural resources, consumer/retail and technology. In addition to control buyouts, Cynosure provides growth equity and strategic minority investments in companies with reliable cash flow, meaningful growth prospects, and the ability to differentiate in their markets. The Cynosure

Group’s flexible investment mandate enables a collaborative approach with strong management teams and family-owned businesses over a longer period than traditional private equity investors.



Sandler O’Neill served as the exclusive financial advisor to The Carlyle Group in connection with this transaction. This represents Sandler O’Neill’s 9th U.S. asset management transaction and 128th financial services transaction since January 1, 2014, more than any other investment bank during that time period.(1)


(1) Source: SNL Financial; Excludes terminated transactions or self-advisory roles

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Quarterly and Monthly Notes

Quarterly Note

Third Quarter, 2018

Quarterly Note

Second Quarter, 2018

Monthly Note

May 2018

Monthly Note

April 2018

Quarterly Note

First Quarter,  2018

Monthly Note

February 2018

Yearly Outlook


Monthly Note

November 2017

Quarterly Note

Third Quarter,  2017

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August 2017

Monthly Note

July 2017

Quarterly Note

Second Quarter,  2017

Monthly Note

May 2017

Monthly Note

April 2017

Quarterly Note

First Quarter, 2017

Monthly Note

February 2017

Monthly Note

January 2017

Quarterly Note

Fourth Quarter, 2016

Monthly Note

December 2016

Monthly Note

November 2016

Quarterly Note

Third Quarter, 2016

Monthly Note

August 2016

Monthly Note

July 2016

Quarterly Note

Second Quarter, 2016

Monthly Note

May 2016

News | Press

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