Report: Audax Group Mulls Sale of CW Advisors Stake

Private equity-backed RIA CW Advisors is reportedly seeking new investors through a capital raise that may lead to a majority stake sale in the firm, according to a January 29 Citywire report, citing sources with knowledge of the situation.

According to one source, the RIA has employed Goldman Sachs as its investment banker for the transaction. The source also told the publication that Audax group, CW Advisors’ current PE sponsor, is open to selling a majority stake in the firm to a potential investor.

This transaction would be the firm’s third led by Goldman Sachs within five years after Canadian asset manager CI Financial bought a minority stake in 2020 and Audax purchased a majority stake, including CI Financial’s interests, in 2023. CW Advisors has acquired four RIAs since partnering with Audax, most recently the $1.2B Agili based in Richmond, VA, in August 2024. The RIA has also recruited Jennifer DeSisto as its CIO, as reported by Dakota on October 22.

Goldman is also reportedly helping Commonwealth Financial in its search for a minority investor, as previously reported by Dakota.

New call-to-action

Written By: Dakota

logo-1

The Database For Cold Outreach to Reach Institutional and RIA Investors