TPG in talks to acquire $2 billion stake in Creative Planning at $15 billion valuation.

From Investing.com: 2024-09-28 14:05:31

Private equity firm TPG is in talks to acquire a $2 billion minority stake in wealth management firm Creative Planning, valuing the company at over $15 billion. This comes after TPG recently secured a stake in Homrich Berg. Other bidders inclue Permira. The deal could be finalized in the next few days.

TPG would join General Atlantic as an owner of Creative Planning. Wealth management firms like Creative Planning are attractive to private equity due to their steady cash flows and potential for growth through acquisitions. Creative Planning manages over $300 billion in assets and offers a range of financial services.

Last year, Creative Planning acquired the personal financial unit of Goldman Sachs. TPG, founded in 1992, currently manages $229 billion in assets and saw a 60% increase in fee-related income in its recent quarter. The firm is led by Jon Winkelried and continues to see strong growth in its assets under management.



Read more at Investing.com: Exclusive-TPG in lead to buy stake in Creative Planning at $15 billion valuation, sources say By Reuters