Global Private Equity firm TPG Capital is making a “substantial” minority investment in wealth management firm Creative Planning, both firms announced Tuesday.
Creative Planning President and Chief Executive Officer Peter Mallouk will continue to lead the business and retain a majority stake, the announcement stated. Creative Planning and its affiliates currently have more than $375 billion in combined assets under management (AUM) and advisement across 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,” said Mallouk. “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.”
TPG will invest in Creative Planning through TPG Capital, it’s U.S. and European private equity platform. The firm joins existing investor General Atlantic, who took a minority stake in 2020. The registered investment advisor (RIA) has since acquired multiple firms and teams, including Mesirow’s corporate retirement advisory services team and CTB Financial Services in 2023. Creative Planning also unveiled a multi-billion-dollar strategic custody relationship with Goldman Sachs Advisor Solutions (GSAS) that year.
“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,” added Peter McGoohan, partner at TPG Capital. “We look forward to working closely with Peter and Creative’s impressive management team and advisors to invest behind the Company’s continued growth and expansion.”
Goldman Sachs acted as exclusive financial advisor to Creative Planning, and Paul Weiss provided legal counsel. J.P. Morgan Securities LLC and RBC Capital Markets acted as financial advisors to TPG Capital, and Davis Polk provided legal counsel. Terms of the transaction were not disclosed.
Amanda Umpierrez is the Managing Editor of 401(k) Specialist magazine. She is a financial services reporter with over six years of experience and a passion for telling stories and reporting news. Amanda received her degree in journalism and government and politics at St. John’s University. She is originally from Queens, New York, but now resides in Denver, Colorado with her partner. In her free time, Amanda enjoys running, cooking, and watching the latest drama show.
