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September 30, 2024 at 05:21 PM
The global private equity firm TPG has taken a minority stake in Creative Planning.
The news follows closely on TPG’s announcement of its minority investment in the Atlanta-based registered investment advisor Homrich Berg, and some six weeks after General Atlantic, another PE firm, said it was looking to sell a slice of its minority stake Creative Planning.
Unlike the Homrich Berg deal, which involved TPG Growth, the firm’s middle market and growth equity platform, TPG is investing in Creative Planning through TPG Capital, its U.S. and European private equity platform.
Terms of the transaction were not disclosed, but the announcement refers to the investment as “significant.”
Creative Planning’s president and CEO, Peter Mallouk, will continue to lead the business and maintain a majority stake, according to the announcement.
“This new investment from TPG Capital is recognition of the unique value we create for our clients and the growth and expansion opportunities ahead for our business,” Mallouk said in a statement. “We are excited to partner with a trusted investor like TPG, with a well-known global reputation, who shares our vision of leveraging our planning-led approach and people-first culture to better serve clients through every phase of their financial lives.”
