Creative Planning CEO Peter Mallouk confirmed Wednesday that General Atlantic, the private equity firm, is looking to sell a slice of its minority stake in the RIA.
"We don't know how big a stake it is," he told ThinkAdvisor. "Through the process, they'll figure out how much that's going to be."
General Atlantic, however, seeks to exit a minority of its minority position.
The firm's capital structure will remain largely the same after the deal, Mallouk said.
He confirmed, as reported recently by CityWire, that Creative Planning has engaged Goldman Sachs as its investment banker to assist in finding an investor.
