The Carlyle Group will invest $75m (€48bn) in wealth manager Boston Private Financial Holdings after Carlyle's financial services team last month stressed the importance of private equity as an untapped pool for struggling financial institutions.

Carlyle's investment is a combination of convertible preferred stock and warrants. The investment would give Carlyle a nearly 25% ownership stake in Boston Private, which caters to high net worth clients, if it were possible to convert all preferred stock and exercise of all the warrants, according to a statement.