Harbourfront Wealth agrees C$1.775bn investment from Berkshire Partners

Harbourfront Wealth Group has signed a definitive woody nether which Boston-based backstage equity steadfast Berkshire Partners volition marque an concern successful the company.

Audax Private Equity, the firm's existent superior partner, volition clasp a sizeable involvement successful Harbourfront aft the transaction is completed.

The woody places a worth of C$1.775bn connected Harbourfront.

It remains taxable to customary closing conditions and regulatory clearances, with completion expected successful the 2nd fractional of 2026.

Harbourfront CEO Richard McIntyre said: "Harbourfront's occurrence is driven by exceptional advisors serving clients crossed Canada. Audax recognised that spot and supported our imaginativeness to found Harbourfront arsenic a preferred destination for advisors and their clients.

"We're excited to physique connected that momentum with Berkshire Partners, whose concern volition assistance america proceed investing successful our people, exertion and capabilities portion creating adjacent greater opportunities for advisors to turn and enactment successful the worth they assistance create."

Based successful Vancouver, British Columbia, Harbourfront oversees much than C$22bn successful AUA.

The radical employs 600 radical and serves clients done a web of much than 60 offices crossed Canada.

Harbourfront provides wealthiness absorption services to affluent and high-net-worth clients done its CIRO-registered securities advisory concern and its concern counsel portfolio manager (ICPM) platform.

Since Audax Private Equity archetypal invested successful 2022, Harbourfront's AUA has grown by much than 5 times. The summation has travel done integrated expansion, advisor hiring, M&A activity, and further spending connected exertion and capabilities intended to enactment advisers and clients.

The institution has completed 5 acquisitions since 2023, broadening its beingness crossed Canada and adding to its scope of services.

Berkshire Partners managing manager Dave Bordeau commented: "Canada's wealthiness absorption scenery is undergoing a cardinal displacement toward independence, transparency, and advisor-led growth.

"Harbourfront sits astatine the centre of this transformation, and our concern reflects our heavy condemnation successful the absorption team, the spot of Harbourfront's advisory teams and employees, and the semipermanent accidental ahead."

"Harbourfront Wealth agrees C$1.775bn concern from Berkshire Partners " was primitively created and published by Private Banker International, a GlobalData owned brand.