Creative Planning Minority Owner Wants to Pare Stake
CEO Peter Mallouk confirmed that General Atlantic is seeking to sell part of its position in the RIA.
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.
“Post-transaction the capital stack will stay the same, with me as majority,” Mallouk said. “All the employees that are partners remain as partners.”
General Atlantic will remain a minority shareholder, and a new entrant will enter the RIA’s capital stack.
Creative Planning had more than $300 billion in assets under management at year-end 2023. The firm announced General Atlantic’s minority investment in early 2020.
Photo: Janie Jones