Read more: ‘We have a refreshing business model for advisors,’ says CEO
After carefully examining and weighing the options, Harbourfront chose Audax as its best-fit partner earlier this year. Raymond James had initially introduced the company in August 2021.
Other participants include Fasken, Stikeman Elliot LLP, Kirkland & Ellis, KPMG International LTD, Blake, Cassels & Graydon, Bain & Company, Audax Group, and Antares Capital.
“We’ve always been extremely well- capitalized so we never sought out any investors but when Raymond James’ Investment Banking team approached us to survey the private equity market, we realized bringing on a third-party investor would validate our thesis, creating a catalyst for an accelerated rate of growth,” said Harbourfront CEO Danny Popescu.
“Over the last 10 years, we’ve changed the lives of our clients through our exclusive retail service offerings and now, with this first liquidity round, we’ve changed the lives of our advisors who took the leap and joined us. Advisors are realizing that Harbourfront is disrupting the industry with one of the best client offerings and the ability for advisors to be partners at a firm that rapidly creates value for shareholders,” he added.
