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Deals & People September 30, 2024
Creative Planning Secures Minority Investment From TPG Capital
The investment was made through the private equity arm of TPG’s U.S. and European platform.
Reported by Natalie Lin
Creative Planning LLC, an independent wealth management firm, announced Tuesday that TPG (Tarrant Capital IP LLC), an alternative asset management company, has made a “significant” minority investment in the business. The investment comes through TPG Capital, the private equity arm of TPG’s U.S. and European platform, though the firms did not disclose the exact amount.
Peter Mallouk, president and CEO of Creative Planning, will continue to lead the company while retaining majority ownership. Creative Planning and its affiliates currently manage and advise on more than $375 billion in assets, spanning all 50 states and 90 countries.
“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.”
Peter McGoohan, a partner in TPG Capital, echoed this sentiment, noting, “As clients are increasingly seeking out holistic wealth management solutions, Peter Mallouk and Creative Planning have built an unparalleled business in the space with a track record of success by offering services that address clients’ unique needs.”
TPG Capital joins existing investor General Atlantic Service Co. LP, which made a minority investment in Creative Planning in 2020. At that time, Creative Planning managed $50 billion in assets, operated 27 offices, employed 650 people and served clients across all 50 U.S. states.
“In our over four years of partnership together, Creative Planning has continued to build on its reputation as an industry-leading wealth management firm with deep client focus and a unique servicing offering,” Paul Stamas, General Atlantic’s managing director and global head of financial services, said in a statement.
Goldman Sachs served as the exclusive financial adviser to Creative Planning, with Paul Weiss providing legal counsel. J.P. Morgan Securities LLC and RBC Capital Markets advised TPG Capital, with legal counsel from Davis Polk.