Private equity firm TA Associates (TA) has signed a conditional agreement to invest in New Zealand-based wealth management firm Craigs Investment Partners.
The financial terms of the transaction have not been disclosed.
According to the terms of the deal, Craigs Investment Partners’ existing employee and director shareholders will retain 50% ownership of the firm, forming a partnership with TA to support its growth ambitions.
The partnership aims to strengthen Craigs Investment Partners’ position in New Zealand’s wealth management sector while supporting its expansion efforts.
TA Associates is expected to bring strategic resources, industry knowledge, and a global network to accelerate Craigs Investment Partners’ development.
Craigs Investment Partners offers solutions for private investors and corporate clients. The firm provides services such as investment advice, securities trading, research, institutional dealing, cash management, investment banking and others.
It operates across 19 branches in New Zealand, employing 650 staff, including 180 qualified investment advisers, and manages NZ$32bn in funds under advice (FUA).
Currently 100% owned by its employee and director shareholders, Craigs Investment Partners services more than 65,000 private wealth investors nationwide.
Craigs Investment Partners CEO Simon Tong said: “TA is an ideal partner to support Craigs’ growth ambitions and ongoing commitment to client outcomes given its significant global experience investing in wealth management, and its strong understanding of the regional market.
“Craigs and TA are aligned on a client-first philosophy and the importance of a personalised approach to wealth management. Client outcomes remain our top priority, and there will be no change in the people or our approach to providing outstanding service to our clients.”
Founded in 1968, TA Associates has invested in over 560 companies across industries including financial services, technology, and healthcare.
TA Associates managing director and TA Associates Asia Pacific head Edward Sippel said: “Over the past 40 years, Craigs has established itself as one of the largest and most respected wealth management firms in New Zealand, offering a comprehensive range of personalised wealth advice and services to its clients.”
Subject to several conditions, including approval from the Overseas Investment Office (OIO), court approval, and shareholder consent from Craigs Investment Partners, the transaction is anticipated to be closed by late Q1 2025.
