Wellington-Altus Announces Credit Facility With Ares Management, Providing Long-Term Capital to Fuel Growth Français
WINNIPEG, MB, TORONTO and MONTRÉAL, Sept. 5, 2024 /CNW/ - Wellington-Altus Financial Inc. (Wellington-Altus), parent company to Canada's top-rated* investment dealer, has announced a new credit facility from credit funds managed by Ares Management that provides Wellington-Altus with access to significant capital as it continues its growth trajectory.
In just seven years since inception, Wellington-Altus has surpassed $30 billion in assets under administration (AUA) and is approaching 900 employees across the country, solidifying its position as one of the fastest growing wealth management firms in Canada.
As the firm gears up for its next medium-term target of $50 billion AUA by 2026 and then onward to its ultimate goal of $100 billion AUA, the credit facility announced today provides Wellington-Altus with the ability to capitalize on opportunities as they arise while enabling advisors to expand their practices further.
"Today's announcement speaks to the size, strength and stability of Wellington-Altus and the stature it has achieved during its initial phase of growth," said Shaun Hauser, Founder & CEO of Wellington-Altus. "As we move to the next exciting chapter, leveraging relationships with global capital providers like Ares gives us the fuel needed to continue revolutionizing wealth management in Canada, and our team is excited to have their financial and strategic support."
"Wellington-Altus is a leader in the Canadian wealth management landscape, and we're excited to support their continued growth," said Ryan Helfrich, principal in Ares Credit Group. "As a capital solutions provider to a number of businesses across the wealth management industry, we recognize the strength of the Wellington-Altus team and look forward to helping the firm as it executes against its strategic vision."
About Wellington-Altus Financial Inc.
Founded in 2017, Wellington-Altus Financial Inc. (Wellington-Altus) is the parent company to Wellington-Altus Private Counsel Inc., Wellington-Altus USA Inc., Wellington-Altus Insurance Inc., Wellington-Altus Group Solutions Inc., and Wellington-Altus Private Wealth Inc.—the top-rated* investment dealer in Canada and one of Canada's Best Managed Companies. With more than $30 billion in assets under administration and offices across the country, Wellington-Altus identifies with successful, entrepreneurial advisors and portfolio managers and their high-net-worth clients.
*Investment Executive 2024 Brokerage Report Card. |
About Ares Management Corporation
Ares Management Corporation is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, real estate, private equity and infrastructure asset classes. We seek to provide flexible capital to support businesses and create value for our stakeholders and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of June 30, 2024, Ares Management Corporation's global platform had over $447 billion of assets under management, with more than 2,950 employees operating across North America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com.
SOURCE Wellington-Altus Financial Inc.
Media Inquiries: Kristy Kenny, Associate Vice-President, Marketing Communications, 647.977.2069, [email protected]
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