Wealth management company Creative Planning sold a “substantial” minority stake to private-equity firm TPG, the companies said Monday morning. TPG said it is making the investment though TPG Capital,

San Francisco-based TPG is set to prevail in an auction for the stake in Creative Planning that drew interest from other buyout firms, including Permira, the sources said, requesting anonymity as the discussions are confidential. The deal could be announced in the coming days, the sources added.

Asset manager TPG has bought a minority stake in wealth management firm Creative Planning, striking its second such deal in less than a week as it looks to expand its foothold in the investment advisory space.

This new investment from TPG Capital is recognition of the unique value we create for our clients and the growth and expansion opportunities ahead for our business,” Creative