It's been confirmed that San Francisco private-equity firm TPG is taking a minority stake in the Overland Park, Kan.-based RIA firm Creative Planning.
Over the weekend, TPG was reported to be the likely frontrunner in an auction to acquire a $2 billion minority interest in Creative Planning, the fast-growing Kansas RIA, according to a Reuters report on Saturday. Sources cited by Reuters and others said the investment could value Creative Planning, which manages or advises on more than $300 billion in assets, at $15 billion or more.
If completed, the investment could set a new valuation standard for large RIA aggregators. General Atlantic acquired a minority interest in Creative Planning in 2020. General Atlantic is believed to be looking to reduce its current stake in Creative Planning as part of the contemplated capital raise.
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