Homrich Berg, a fast-expanding wealth management firm, said it has sold a minority stake to private-equity firm TPG. The investment will help Homrich Berg expand its capabilities, the company said. Homrich Berg, which has about $18 billion in assets under management, didn’t disclose terms of the transaction.

Private equity firm TPG has agreed to buy a minority stake in Homrich Berg, an investment that would allow the wealth management firm to pursue growth opportunities, the companies said on Thursday.

Executives at Homrich Berg, an Atlanta-based RIA integrator with $18 billion in assets, will sell a minority stake in the firm to TPG Growth, the middle market and growth equity platform of TPG, a San Francisco-headquartered private equity firm, the company confirmed.

Homrich Berg ("HB" or the "Firm") proudly announces a new chapter in its 35-year history, with a strategic minority investment from TPG Growth, the middle market and growth equity platform of TPG (NASDAQ: TPG),

Private equity firm TPG has agreed to buy a minority stake in Homrich Berg, in a deal that values the wealth management firm at around $1 billion, people familiar with the matter said on Thursday. As part of the transaction,

TPG Growth, the middle market and growth equity platform of asset manager TPG, is taking a minority stake in the Atlanta-based registered investment advisor Homrich Berg (HB). Terms of the transaction, which was first reported by Reuters, were not disclosed.