Thirty five years into its history and Atlanta-based RIA Homrich Berg continues to expand with new investment adding weight to its growth potential.
The firm, which manages around $18 billion in client assets and recently appointed a new principal and chief advisory officer, has attracted a new minority partner as global alternative asset manager TPG Growth adds to its investment industry holdings.
In 2021, Homrich Berg secured a minority equity partnership with New Mountain Capital, which maintains its investment in the firm alongside TPG while HB’s management team remains the largest shareholder group. Terms of the transaction have not been disclosed.
That previous investment helped fuel growth for HB through and expansion of its client experience and TPG’s involvement will further boost the firm’s capabilities by attracting top-tier talent and increased improvement of client services.
"We are thrilled to welcome TPG Growth as a strategic partner alongside New Mountain," said Homrich Berg president and CEO Thomas Carroll. "Partnering with minority investors who hold a shared vision for the future of the Firm enables us to continue delivering outstanding service and advice within our independent, fee-only fiduciary model. It also allows HB to remain the largest shareholder group, with our management team retaining operational control, ensuring that our mission of being a trusted financial guide for our clients remains intact."
For TPG Growth, the investment in HB comes at a time when the RIA has seen strong organic and inorganic growth, as noted by Jenny Tu, principal at TPG Growth.
“The Firm’s unwavering commitment to client service and a fee-only fiduciary approach is a proven formula for success and we look forward to supporting HB’s vision for enhancing their capabilities and serving even more clients,” Tu said. “We have been impressed by Thomas and his team and are proud to partner with them and the team at New Mountain to build on HB’s momentum."
Meanwhile, Raymond James and Tritonpoint Partners separately welcomed father-son teams, including a breakaway from UBS in Missouri.
Paul Atkins has asked staff to solicit public comment on novel ETFs, pausing the clock on as many as 24 filings linked to the booming event contracts market.
From 401(k)s to retail funds, Deloitte sees private equity and credit crossing into mainstream investing on two fronts at once.
Big-name defections from Morgan Stanley, UBS, and Merrill Lynch headline a busy two weeks of recruiting for the wirehouse.
Markets have always been unpredictable. What has changed is the amount of information investors are trying to process and the growing role advisors play in helping clients avoid emotional decisions
Wellington explores how multi strategy hedge funds may enhance diversification
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
