Private equity giant TA Associates backs Aussie wealth firm

Viridian Financial Group has become the latest financial advice group to benefit from private equity interest.

The investment, for an undisclosed sum, has been agreed by both parties and the two firms will partner closely to accelerate Viridian’s next phase of growth.

Since being founded in 2015, Viridian now manages around $16 billion in funds across Viridian Advisory, Infinity Capital Solutions and Smartmove Lending. These divisions cover wealth and financial advice, investment solutions and mortgage broking.

Its partnership with TA Associates will allow the firm to expand its capabilities, enhance its integrated service offering and fuel client success, it said. 

James Joughin, chair at Viridian, 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.”

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Raamy Shahien, joint chief executive of Viridian, said: “Since Viridian’s founding nearly a decade ago, we have remained steadfast in our client-centric philosophy, focused on empowering Australians through holistic financial advice, innovative solutions and exceptional service.

“Having built a strong relationship with TA, and after collaborating closely with them to structure our partnership, we are confident that TA is the ideal partner to support Viridian’s growth and vision moving forward. Our partnership with TA marks a significant milestone in our journey, serving as both a recognition of our strong track record thus far and a catalyst for future growth as we continue to expand in an ever-evolving market.”

TA Associates Asia-Pacific head, Edward Sippel, said the private equity firm has been conducting a multiyear deep dive into the Australian wealth management landscape. 

“Across our global wealth management investments, our focus is first and foremost on client outcomes and alignment with advisers. We are pleased that the Viridian team shares this commitment. 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.”

Both Sipple and Lily Xu, senior vice president at TA Associates, will join Viridian’s board of directors.

The agreement remains subject to customary conditions. Settlement is expected to occur in the third quarter of 2025.

There has been a high volume of private equity activity in the financial advice space recently. Insignia Financial has received private equity bids from CC Capital, Bain Capital and Brookfield although only CC Capital remains in the process. 

It announced last December that Sydney-based private equity firm Adamantem, which manages over $2 billion in assets under management, had entered into a binding agreement to acquire Mason Stevens, a deal which was completed in April 2025.

Meanwhile, Oaktree Capital invested $240 million in advisory group AZ NGA while Azimut management and business owners have retained a “strategic stake” in the company. AZ NGA CEO Paul Barrett told Money Management at the time: “We now have one of the most respected investors on the planet – it’s an absolute privilege for us to have Oaktree. It means that we now have significant financial horsepower and significant know-how to go about the rest of our work.”