(Bloomberg) -- Buyout firm TPG is the frontrunner to acquire a minority stake in Creative Planning that would value the wealth management firm at more than $15 billion, Reuters reported, citing unidentified people with knowledge of the matter.
The minority stake would be worth $2 billion, Reuters said, citing the people who requested anonymity as the discussions are confidential. The auction for the stake in Creative Planning drew interest from other buyout firms including Permira, Reuters said.
If the talks are successful, TPG would become one of the owners in the wealth manager, along with private equity firm General Atlantic, which acquired a minority stake in 2020, Reuters said.
The deal may be announced in the coming days, Reuters said. TPG and Permira declined to comment to the media outlet.
©2024 Bloomberg L.P.
