TA Associates Stakes Kiwi Wealth Manager Craigs

New Zealand-based wealth management firm Craigs Investment Partners announced that Boston-based private equity manager TA Associates has signed a conditional agreement to make a strategic investment in the firm.

Through the partnership, Craigs aims to enhance its position in New Zealand’s wealth management market and continue its expansion, in turn leveraging TA’s experience, resources, and network to bolster its growth plans. Under the agreement, Craigs’ existing employees and director shareholders will retain 50% ownership in the firm.

The financial and legal terms of the agreement were not disclosed. The deal is still pending necessary approvals, including court and shareholder consent, as well as clearance from New Zealand’s Overseas Investment Office. Craigs said it anticipates a late Q1 2025 deal close.