Centerbridge’s Focus Financial buys first Canadian wealth manager

Focus Financial Partners LLC, a portfolio company of U.S. private equity firm Centerbridge Capital Partners, has acquired Dorchester Wealth Management Co, a Montréal-based investment counselling and wealth management business with over $850 million in assets. The financial terms of the deal were not released. Focus, a global partnership of independent wealth managers, said the acquisition marks its entry into the market in Canada. Headquartered in New York, the company received a US$216 million investment from Centerbridge in July 2013.

PRESS RELEASE

Focus Financial Partners Enters the Canadian Market with Dorchester Wealth Management

April 13, 2015

NEW YORK & MONTREAL–(BUSINESS WIRE)–Focus Financial Partners, LLC (‘Focus’), the leading international partnership of independent wealth management firms, today announced that Dorchester Wealth Management (‘Dorchester’, formerly Dorchester Investment Management), an investment counseling and wealth management firm based in Montreal, Canada, joined the Focus partnership as of April 1st, 2015. Dorchester is the first Canadian firm to join Focus.

With over C$850 million in assets under management, Dorchester is and has always been committed to helping clients achieve their long-term financial goals through an unbiased and highly personalized approach to professional investment management. This ensures that all client portfolios are managed professionally to safeguard and grow assets according to each client’s objectives.

“We are thrilled to welcome Dorchester to our partnership. Their dedication to customized solutions for personal wealth management and desire to grow make them an excellent fit for our partnership of entrepreneurial firms globally,” said Rudy Adolf, founder and CEO of Focus. “We see tremendous potential through Dorchester to increase our regional reach in Canada and bring more exciting international opportunities to Focus.”

Dorchester serves Canadian, American and overseas clients with a dedicated team of nine investment professionals, each with extensive wealth management experience. The partnership provides Dorchester with access to Focus’ proven expertise in M&A and access to capital for growth. The firm plans to utilize Focus’ continued geographic expansion in North America to attract top quality talent and ensure the strongest possible wealth management offering for clients.

“We are excited to partner with Focus who shares our commitment to provide client-centric and unbiased wealth management offering,” said Robert Bard, president of Dorchester Wealth Management. “Focus brings greater resources and expertise in certain aspects of our business while still allowing us to maintain our boutique client service environment and investment excellence.”

About Dorchester Wealth Management

From its founding in 1928, Dorchester is proud of its long history and is a leading independent investment counseling and wealth management firm in Canada with over C$850 million assets under management. Although its office is in Montreal, the firm provides investment counsel and wealth management services to clients across North America and overseas and is licensed with l’Autorite des marches financiers du Quebec, the Securities Commissions of Alberta, British Columbia, Manitoba, New Brunswick, Nova Scotia, Ontario, and the Securities and Exchange Commission in the United States. For more information about Dorchester, please visit www.dorchesterwealth.com

About Focus Financial Partners, LLC

Founded in 2006, Focus Financial Partners, LLC, is the leading international partnership of independent, fiduciary wealth management firms. With more than $325 million in annual run rate revenues, Focus provides unrivaled access to best practices, resources, and continuity planning for its partner firms who serve individuals, families, employers and institutions with wealth management, benefit and investment consulting services. Focus partner firms maintain their entrepreneurial independence, while they benefit from the synergies, scale, economics and best practices of the market leader to achieve their business objectives. Focus was included on Inc. magazine’s 5000 ranking of the nation’s fastest-growing private companies in 2011 and 2010. In 2012, Focus was named a Crain’s New York Business “Fast 50” growth firm in New York City. For more information about Focus Financial Partners, please visit www.focusfinancialpartners.com.

Contacts
Media:
FTI Consulting
Danielle Fornabaio, 212-850-5731
danielle.fornabaio@fticonsulting.com

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