Creative Planning, a prominent wealth management firm, has sold a significant minority stake to private equity firm TPG, marking another notable development in the growing trend of private equity investments in the RIA space.
TPG is making the investment through its U.S. and European private-equity platform, TPG Capital. Specific financial details of the transaction were not disclosed. General Atlantic, another private equity firm that acquired a minority stake in Creative Planning in 2020, will retain its investment, reflecting continued confidence in the firm's future.
This new partnership with TPG is expected to fuel Creative Planning’s already rapid growth, further cementing its position as a leader in the independent wealth management sector. Based in Overland Park, Kansas, Creative Planning has become one of the largest RIAs in the U.S., managing over $375 billion in assets, a dramatic rise from the under $100 million it managed in 2004. In Barron’s 2024 ranking of the Top 100 RIAs, Creative Planning is listed second among the “mega” RIAs.
The firm’s growth has been driven by both organic expansion and a series of strategic acquisitions. Most notably, in 2023, Creative Planning acquired the former United Capital business from Goldman Sachs, a move that further bolstered its presence in the wealth management landscape.
Peter Mallouk, CEO of Creative Planning, will continue to lead the firm and retain a majority stake. Mallouk highlighted the TPG investment as a recognition of the company’s impressive growth trajectory and the significant opportunities for future expansion. He emphasized that this partnership will support the firm’s continued evolution and ability to better serve its clients.
Peter McGoohan, a partner at TPG Capital, expressed enthusiasm for Creative Planning’s success and leadership in the wealth management industry. TPG’s investment in Creative Planning is part of a broader trend, as private equity firms increasingly target RIAs for their stable revenue streams and strong growth potential. This latest transaction comes just a week after a separate TPG unit acquired a stake in Homrich Berg, an Atlanta-based RIA managing $18 billion in assets.
