Harbourfront Wealth Group has signed a definitive deal under which Boston-based private equity firm Berkshire Partners will make an investment in the company.
Audax Private Equity, the firm’s current capital partner, will retain a sizeable stake in Harbourfront after the transaction is completed.
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The deal places a value of C$1.775bn on Harbourfront.
It remains subject to customary closing conditions and regulatory clearances, with completion expected in the second half of 2026.
Harbourfront CEO Richard McIntyre said: “Harbourfront’s success is driven by exceptional advisors serving clients across Canada. Audax recognised that strength and supported our vision to establish Harbourfront as a preferred destination for advisors and their clients.
“We’re excited to build on that momentum with Berkshire Partners, whose partnership will help us continue investing in our people, technology and capabilities while creating even greater opportunities for advisors to grow and participate in the value they help create.”
Based in Vancouver, British Columbia, Harbourfront oversees more than C$22bn in AUA.
The group employs 600 people and serves clients through a network of more than 60 offices across Canada.
Harbourfront provides wealth management services to affluent and high-net-worth clients through its CIRO-registered securities advisory business and its investment counsel portfolio manager (ICPM) platform.
Since Audax Private Equity first invested in 2022, Harbourfront’s AUA has grown by more than five times. The increase has come through organic expansion, adviser hiring, M&A activity, and further spending on technology and capabilities intended to support advisers and clients.
The company has completed five acquisitions since 2023, broadening its presence across Canada and adding to its range of services.
Berkshire Partners managing director Dave Bordeau commented: “Canada’s wealth management landscape is undergoing a fundamental shift toward independence, transparency, and advisor-led growth.
“Harbourfront sits at the centre of this transformation, and our partnership reflects our deep conviction in the management team, the strength of Harbourfront’s advisory teams and employees, and the long-term opportunity ahead.”
