Focus Financial is expanding in Canada with the acquisition of Toronto-based Nexus Investment Management.
Founded in 1988, Nexus has provided investment and wealth management services to high net worth individuals and families, foundations and endowments located across Canada. The firm touts an integrated approach to portfolio management and wealth planning.
"Our clients' financial success has always been paramount," said John Stevenson, president of Nexus. "Our partnership with Focus will provide assurance that we can continue to serve our clients with the same independent approach and personal service that they have valued for over 30 years, while at the same time capitalizing on the support that Focus offers a firm like ours."
Our clients’ financial success has always been paramount"
The transaction is expected to close in the first quarter of 2020, subject to regulatory approval and other customary closing conditions.
We are excited for Nexus to join the Focus partnership," said Rudy Adolf, Founder, CEO and chairman of Focus. "Nexus is a clear market leader and this transaction extends our track record of acquiring excellent firms, while also expanding our position in the highly attractive Canadian market.
"We believe that Nexus' success with high net worth clients, together with its comprehensive service offering and strong leadership team, positions the firm to be a platform for future growth. We look forward to deploying our value-added resources to support Nexus' entrepreneurial vision."
Focus, based in New York City, is backed by private equity firms KKR, Stone Point Capital and Centerbridge Partners.
Blair Franklin Capital Partners, a Toronto-based M&A advisory firm, served as financial advisor to Nexus for this transaction.