The stock market has been volatile for several weeks, and it does not look like markets will stabilize soon. Increasing geopolitical tensions are piling on to inflationary environments, interest rate hikes, and supply-chain issues to batter growth stocks all around.

Risk-averse investors who want stability right now might veer away from growth stocks that offer short-term growth. Investing in growth stocks is an essential part of every well-balanced portfolio. However, focusing solely on rapid growth stocks entails significant capital risk, especially during volatile market environments.

If you seek long-term and sustainable wealth growth, it is best to find high-quality growth stocks that can consistently provide growing shareholder value for several decades. Today, I will discuss two such TSX stocks that you could consider adding to your portfolio for this purpose.

Brookfield Infrastructure Partners

Brookfield Infrastructure Partners (TSX:BIP.UN)(NYSE:BIP) is one of the best long-term growth stocks you can consider in the current environment. The US$25.33 billion market capitalization company headquartered in Toronto owns a diversified portfolio of infrastructure assets worldwide. The company owns defensive assets, making it a reliable dividend stock to own. It also keeps recycling its capital to acquire more assets, delivering more growth.

At writing, Brookfield Infrastructure stock trades for $75.22 per share, and it boasts a 3.47% dividend yield. Adding its shares to your portfolio could provide you with stable returns through its shareholder dividends. The acquisition of more infrastructure assets by using its capital also unlocks the potential for substantial long-term growth through capital gains.

Dollarama

Dollarama Inc. (TSX:DOL) is a reliable business for investors seeking income-generating assets that offer long-term growth. Dollarama is a $19.35 billion market capitalization dollar store retail chain headquartered in Montreal. With a growing portfolio of over 1,400 stores, the company has proven itself as a worthy investment for long-term growth-seeking investors.

Dollarama has also benefitted from the overall change in consumer habits amid the pandemic. The global health crisis hit everyone hard, and people are looking for more opportunities to save costs. Discount retailers like Dollarama offer them the perfect opportunity to get the best value for money, boosting the company’s revenues in the process.

Dollarama stock trades for $65.50 per share at writing, and it boasts a 0.31% dividend yield. While the stock does not offer much in terms of dividend income, Dollarama is a top long-term growth stock that could offer significant wealth growth through capital gains as it seeks to expand its operations outside Canada into international markets.

Foolish takeaway

When seeking growth stocks, sticking to high-quality companies that can offer sustainable growth instead of short-term surges on the stock market might be a more reliable method. Brookfield Infrastructure Partners stock and Dollarama stock are two TSX-traded equity securities that could be ideal for this purpose.

The post 2 Long-Term Growth Stocks to Buy and Hold Forever appeared first on The Motley Fool Canada.

More reading

• TFSA Buy Guide: 2 Stocks to Maximize Your Tax Savings
• 3 Reasons I Love Holding Dividend Stocks
• 1st-Time Investors: 4 TSX Stocks to Buy Amid the Market Turmoil
• Passive Income: Rock-Solid Dividends That Could Survive it All
• 3 Long-Term Growth Stocks to Buy and Hold for Years

Fool contributor Adam Othman has no position in any of the stocks mentioned. The Motley Fool recommends Brookfield Infra Partners LP Units.