$35B Wellington-Altus Seeks Third PE Backer, Offers up to 30% Stake

Wellington-Altus Financial on December 6 said it has launched an exploratory process for the sale of a 20% to 30% stake in the company in an effort to provide liquidity for existing shareholders and fuel future growth.

The Canadian wealth management firm is seeking a private equity firm for the minority stake sale, though it intends to continue as a Canadian-controlled private corporation mostly owned by its advisors and employees following any transaction. Completion of the sale process is expected in mid-2025.

To date, the firm has received $40M in equity investment from Cynosure Group, which acquired a 15% stake in December 2023, and a credit facility from funds managed by Ares Management in September 2024. Wellington-Altus said it employs over 900 professionals and administers more than $35B in assets.

Written By: Dakota

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$35B Wellington-Altus Seeks Third PE Backer, Offers up to 30% Stake

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