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Sign in Sign up for a FREE subscriptionCI sells stake in wealth management business to diversified roster of institutional investors
CI Financial Corp., a diversified global asset and wealth management company operating primarily in Canada, the United States and Australia, has sold a 20 percent stake in its U.S. wealth management business to a diversified group of institutional investors for C$1.34 billion ($1 billion).
The investor group includes a wholly owned subsidiary of the Abu Dhabi Investment Authority, Bain Capital, Flexpoint Ford, Ares Management funds, the State of Wisconsin and others.
As of April 30, CI manages and advises on approximately C$394.9 billion ($293 billion) in client assets.
