On August 1, 2024, Vancouver-based Promerita Group, a multidisciplinary advisory and investment firm, and Smythe LLP, a Canadian accounting and advisory firm, completed the acquisition of CareVest Group, which includes CareVest Capital, Carecana, and CVC Market Point. CareVest has operated in Western Canada for over 30 years, specializing in commercial mortgage lending and syndication. The acquisition aims to build on CareVest’s market leadership in Canada’s private lending sector.

Stikeman Elliott LLP advised a consortium of investors led by Promerita Group and Smythe on the transaction. Financial terms were not disclosed.