On December 6, 2023, The Cynosure Group announced a strategic investment in Wellington-Altus Financial Inc.
Under the terms of the transaction, The Cynosure Group (“Cynosure”) announced that it provided Wellington-Altus Financial Inc. (“Wellington-Altus”) with a $40 million second-round growth equity investment. Further terms of the deal were not disclosed.
Cynosure, based in Salt Lake City, Utah, is an independent alternative asset manager and portfolio advisor that makes long-term investment on behalf of families and foundations. As of November 2023, Cynosure had $3.7 million in assets under management.
Wellington-Altus, based in Winnipeg, Canada, is a wealth advisor focused on financial services for ultra-high and high-net-worth private clients, endowments, foundations, and institutional firms. As of October 2023, Wellington-Altus had $25 billion in assets under management.
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