TA Associates invests in Viridian Financial Group

TA Associates announced it will make an undisclosed investment in Viridian Financial Group to help the latter accelerate its next phase of growth.

Viridian chair James Joughin said: "By combining the strengths of both companies, the Viridian board anticipates significant synergies, strengthening our position in the market as well as expanding our capabilities. We believe this transaction will create significant value for our shareholders in driving future profitability. Along with my fellow directors, I have no hesitation in supporting this strategic partnership."

Viridian as about $16 billion of funds across Viridian Advisory, Infinity Capital Solutions and Smartmove Lending, providing wealth advice, investment solutions and mortgage broking services to 15,000 clients.

Head of TA Associates Asia Pacific Edward Sippel said: "We have high conviction in the long-term potential of Australia's large and growing wealth management market, and believe there is a significant opportunity to scale Viridian's platform both organically and through strategic acquisitions."

Sippel will join Viridian's board once the transaction finalises.

While the agreement remains subject to customary conditions, settlement is expected to occur in the third quarter of 2025.

Private equity firm TA Associates has raised $65 billion in capital and has stakes in several fund managers. In 2021, it invested in Betashares. The London Stock Exchange Group (LSEG) sold Russell Investments to TA Associates for US$1.2 billion in 2015.

Viridian joint chief executive Glenn Calder said: "TA has made over 30 investments in wealth management and asset management companies globally, establishing itself as a leading global investor in financial services. Their understanding and proven experience in scaling businesses and deep industry expertise will be invaluable in driving forward our vision of transforming wealth management in Australia."

"TA's support and partnership strengthens our ability to remain agile and forward thinking, ensuring we incorporate international best practices into our business and deliver ongoing value to our clients and stakeholders."