Wellington-Altus closes Kelso investment deal
Advertisement
Read this article for free:
or
Already have an account? Log in here »
To continue reading, please subscribe:
Monthly Digital Subscription
$1 per week for 24 weeks*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Billed as $4.00 plus GST every four weeks. After 24 weeks, price increases to the regular rate of $19.95 plus GST every four weeks. Offer available to new and qualified returning subscribers only. Cancel any time.
Monthly Digital Subscription
$4.99/week*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Billed as $19.95 plus GST every four weeks. Cancel any time.
To continue reading, please subscribe:
Add Free Press access to your Brandon Sun subscription for only an additional
$1 for the first 4 weeks*
*Your next subscription payment will increase by $1.00 and you will be charged $16.99 plus GST for four weeks. After four weeks, your payment will increase to $23.99 plus GST every four weeks.
Read unlimited articles for free today:
or
Already have an account? Log in here »
A Winnipeg-based investment dealer announced on Monday the successful close of a strategic minority investment from a U.S. private equity firm.
Kelso & Company, based in New York City, has funnelled $388 million into Wellington-Altus Financial in exchange for a 25 per cent minority stake. More than 99 per cent of Wellington-Altus shareholders supported the secondary share sale.
With this transaction, Wellington-Altus has exceeded a $1.5 billion valuation. The occasion coincides with two other milestones for the company: it has surpassed 1,000 employees across Canada and has also reached more than $45 billion in assets under administration.
Kelso is a North American-focused middle-market private equity firm that has raised $17 billion in capital commitments across 11 funds since 1980. Wellington-Altus was founded in 2017 by Shaun Hauser. The company looks forward to new growth milestones in the future, Hauser said in a news release.
— Free Press staff