TA Associates is close to acquiring a significant stake in Kline Hill Partners, a specialist in secondary market investments with over $4.2bn in assets under management, according to sources cited by Bloomberg.

The transaction could be valued at approximately $500m, with a formal announcement expected within days.

The deal has drawn widespread interest, with previous bidders including Sixth Street, Bridgepoint Group, First Eagle Investment Management, and Tikehau Capital. Final terms remain undisclosed.

Kline Hill, based in Greenwich, Connecticut, is led by managing partner Michael Bego and partner Jared Barlow. The firm has established itself as a key player in the growing secondaries market, which is seeing rising demand as private equity firms seek liquidity options and limited partners prioritise distributions.

TA Associates, an active investor across financial services, currently holds stakes in firms such as Cliffwater, Fisher Funds, and Yarra Capital Management. The investment in Kline Hill aligns with the firm’s long-standing strategy of backing growth-oriented platforms in asset and wealth management.

“TA has been at the forefront of supporting growth and innovation in the asset management and wealth management markets for several decades,” said Roy Burns, Managing Director at TA.

Source: TA Associates