diff --git a/package.json b/package.json
index 78820120..48ca92d1 100644
--- a/package.json
+++ b/package.json
@@ -135,6 +135,8 @@
     "it-stream-types": "^1.0.4",
     "it-take": "^1.0.2",
     "it-to-buffer": "^2.0.2",
+    "@libp2p/tracked-map": "^1.0.4",
+    "it-pair": "^2.0.2",
     "merge-options": "^3.0.4",
     "mortice": "^3.0.0",
     "multiformats": "^9.6.3",
diff --git a/src/connection-manager/index.ts b/src/connection-manager/index.ts
index ad165d87..1bfb2f06 100644
--- a/src/connection-manager/index.ts
+++ b/src/connection-manager/index.ts
@@ -267,8 +267,6 @@ export class DefaultConnectionManager extends EventEmitter<ConnectionManagerEven
     const peerIdStr = peerId.toString()
     const storedConns = this.connections.get(peerIdStr)
 
-    this.dispatchEvent(new CustomEvent<Connection>('peer:connect', { detail: connection }))
-
     if (storedConns != null) {
       storedConns.push(connection)
     } else {
@@ -284,6 +282,7 @@ export class DefaultConnectionManager extends EventEmitter<ConnectionManagerEven
     }
 
     await this._checkMaxLimit('maxConnections', this.getConnectionList().length)
+    this.dispatchEvent(new CustomEvent<Connection>('peer:connect', { detail: connection }))
   }
 
   /**
diff --git a/test/dialing/direct.spec.ts b/test/dialing/direct.spec.ts
index fb2f978d..66430cd5 100644
--- a/test/dialing/direct.spec.ts
+++ b/test/dialing/direct.spec.ts
@@ -29,6 +29,7 @@ import { createFromJSON } from '@libp2p/peer-id-factory'
 import Peers from '../fixtures/peers.js'
 import { MULTIADDRS_WEBSOCKETS } from '../fixtures/browser.js'
 import type { PeerId } from '@libp2p/interfaces/peer-id'
+import { pEvent } from 'p-event'
 
 const unsupportedAddr = new Multiaddr('/ip4/127.0.0.1/tcp/9999')
 
@@ -430,21 +431,15 @@ describe('libp2p.dialer (direct, WebSockets)', () => {
 
     const identifySpy = sinon.spy(libp2p.identifyService, 'identify')
     const protobookSetSpy = sinon.spy(libp2p.components.getPeerStore().protoBook, 'set')
-    const connectionPromise = pDefer()
+    const connectionPromise = pEvent(libp2p.connectionManager, 'peer:connect')
 
     await libp2p.start()
 
-    libp2p.components.getUpgrader().addEventListener('connection', () => {
-      connectionPromise.resolve()
-    }, {
-      once: true
-    })
-
     const connection = await libp2p.dial(MULTIADDRS_WEBSOCKETS[0])
     expect(connection).to.exist()
 
     // Wait for connection event to be emitted
-    await connectionPromise.promise
+    await connectionPromise
 
     expect(identifySpy.callCount).to.equal(1)
     await identifySpy.firstCall.returnValue
diff --git a/test/identify/index.spec.ts b/test/identify/index.spec.ts
index c1ae112a..9a2ab972 100644
--- a/test/identify/index.spec.ts
+++ b/test/identify/index.spec.ts
@@ -496,9 +496,12 @@ describe('Identify', () => {
 
       const identityServiceIdentifySpy = sinon.spy(libp2p.identifyService, 'identify')
       const identityServicePushSpy = sinon.spy(libp2p.identifyService, 'push')
-
+      const connectionPromise = pEvent(libp2p.connectionManager, 'peer:connect')
       const connection = await libp2p.dial(remoteAddr)
+
       expect(connection).to.exist()
+      // Wait for connection event to be emitted
+      await connectionPromise
 
       // Wait for identify to finish
       await identityServiceIdentifySpy.firstCall.returnValue
@@ -560,9 +563,12 @@ describe('Identify', () => {
 
       const identityServiceIdentifySpy = sinon.spy(libp2p.identifyService, 'identify')
       const identityServicePushSpy = sinon.spy(libp2p.identifyService, 'push')
-
+      const connectionPromise = pEvent(libp2p.connectionManager, 'peer:connect')
       const connection = await libp2p.dial(remoteAddr)
+
       expect(connection).to.exist()
+      // Wait for connection event to be emitted
+      await connectionPromise
 
       // Wait for identify to finish
       await identityServiceIdentifySpy.firstCall.returnValue
diff --git a/test/upgrading/upgrader.spec.ts b/test/upgrading/upgrader.spec.ts
index 536b2c53..56e5eb96 100644
--- a/test/upgrading/upgrader.spec.ts
+++ b/test/upgrading/upgrader.spec.ts
@@ -26,6 +26,7 @@ import type { StreamMuxer, StreamMuxerFactory, StreamMuxerInit } from '@libp2p/i
 import type { Stream } from '@libp2p/interfaces/connection'
 import pDefer from 'p-defer'
 import { createLibp2pNode, Libp2pNode } from '../../src/libp2p.js'
+import { pEvent } from 'p-event'
 
 const addrs = [
   new Multiaddr('/ip4/127.0.0.1/tcp/0'),
@@ -495,10 +496,12 @@ describe('libp2p.upgrader', () => {
     const connectionManagerDispatchEventSpy = sinon.spy(libp2p.components.getConnectionManager(), 'dispatchEvent')
 
     // Upgrade and check the connect event
+    const connectionPromise = pEvent(libp2p.connectionManager, 'peer:connect')
     const connections = await Promise.all([
       libp2p.components.getUpgrader().upgradeOutbound(outbound),
       remoteLibp2p.components.getUpgrader().upgradeInbound(inbound)
     ])
+    await connectionPromise
     expect(connectionManagerDispatchEventSpy.callCount).to.equal(1)
 
     let [event] = connectionManagerDispatchEventSpy.getCall(0).args