TPG Takes Minority Stakes in Creative Planning, Homrich Berg

TPG has announced two strategic minority investments in major wealth management firms, Creative Planning and Homrich Berg, through its private equity platforms.

TPG Capital, its U.S. and European private equity division, has made a “substantial minority investment” in Creative Planning, joining existing investor General Atlantic. Creative Planning, led by President and CEO Peter Mallouk, who retains a majority stake, currently oversees more than $375B in combined assets across all 50 states and 90 countries.

Goldman Sachs acted as the exclusive financial advisor to Creative Planning, with Paul Weiss providing legal counsel, while TPG Capital received financial advice from J.P. Morgan Securities LLC and RBC Capital Markets, and legal counsel from Davis Polk.

Meanwhile, TPG Growth, the middle-market and growth equity platform of TPG, has made a minority investment in Atlanta-based RIA Homrich Berg. This new partnership follows a 2021 investment by New Mountain Capital, which remains a stakeholder.

Homrich Berg, with $18B in assets under management, will see its management team remain as the largest shareholder group. William Blair advised Homrich Berg, with Alston & Bird LLP providing legal counsel, while TPG Growth was advised by Debevoise & Plimpton LLP, and New Mountain by Ropes & Gray LLP. The investment is set to close in the fourth quarter of 2024.

View the press releases here:

https://shareholders.tpg.com/news-releases/news-release-details/creative-planning-announces-strategic-investment-tpg-capital

https://www.tpg.com/news-and-insights/homrich-berg-announces-new-minority-investment-partner-tpg-growth/

Written By: Matt Hirst, Editorial Director

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