Close Close
Sign In
Newsletters
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
Podcast Center Video Center Webcasts Resource Center Events
About ThinkAdvisor Contact Us Advertise With Us Asset & Logo Licensing Sitemap Terms of Service Privacy Policy Copyright © 2024 ALM Global, LLC. All Rights Reserved.
ThinkAdvisor
Advisors Shaking Hands

Practice Management > Building Your Business > Dealmaking

Private Equity Firm TPG Takes Minority Stake in Homrich Berg

By John Manganaro

X
Your article was successfully shared with the contacts you provided.

TPG Growth, the middle market and growth equity platform of asset manager TPG, is taking a minority stake in the Atlanta-based registered investment advisor Homrich Berg (HB).

Terms of the transaction, which was first reported by Reuters, were not disclosed.

The partnership aims to build upon the success of HB’s 2021 minority equity partnership with New Mountain Capital. That deal helped fuel HB’s growth to an $18 billion advisory shop, according to the announcement.

HB’s management team will remain the largest shareholder group, while New Mountain will remain invested in the company.

“Partnering with minority investors who hold a shared vision for the future of the firm enables us to continue delivering outstanding service and advice within our independent, fee-only fiduciary model,” said Thomas Carroll, Homrich Berg president and CEO.

Carroll said an important factor in the deal is that HB’s management team will retain operational control and ensure that its fiduciary approach to serving clients remains intact.

The firm will leverage TPG Growth’s investment to expand its capabilities, attract top-tier talent and further enhance its client services, Carroll said.

Jenny Tu, Principal at TPG Growth, cited HB’s strong organic and inorganic growth over the last several years as key drivers of the deal.

“We have been impressed by Thomas and his team and are proud to partner with them and the team at New Mountain to build on HB’s momentum,” Tu said.

Overall, TPG has $229 billion of assets under management and investment and operational teams around the world.

Credit: Adobe Stock

John Manganaro

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.