Wealth management company Creative Planning sold a “substantial” minority stake to private-equity firm TPG, the companies said Monday morning. TPG said it is making the investment though TPG Capital,

Asset manager TPG has bought a minority stake in wealth management firm Creative Planning, striking its second such deal in less than a week as it looks to expand its foothold in the investment advisory space.

TPG Capital joins existing investor General Atlantic Service Co. LP, which made a minority investment in Creative Planning in 2020. At that time, Creative Planning managed $50 billion in assets, operated 27 offices, employed 650 people and served clients across all 50 U.S. states.