American private equity house TA Associates has agreed to invest in New Zealand-based wealth management company Craigs Investment Partners.

The investment size was not revealed.

The companies entered a conditional agreement in this regard, which will see the current employee and director shareholders of Craigs maintaining a 50% ownership stake in the business.

Craigs expects the deal to support its growth ambitions and strengthen its position in the New Zealand wealth management market.

TA will contribute strategic resources and its global network to ramp up Craigs’ growth trajectory.

Craigs 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.”

The transaction awaits approvals from the Court, Craigs’ shareholders, and the Overseas Investment Office (OIO).

It is expected to be completed in the first quarter of 2025.

Tong added: “This is an exciting opportunity that connects our local team with TA’s extensive global experience in wealth management, supporting our ability to deliver enhanced outcomes for clients in an increasingly dynamic environment. Access to TA’s international network, best practices and insights will help us elevate our services while maintaining the personalised approach that sets us apart.”