Mubadala Capital Finalises Take-Private of CI Financial
The transaction adds CI Financial to Mubadala Capital's expanding roster of asset management businesses, bringing its total assets under advice, management, or administration to over US$430 billion. CEO Kurt MacAlpine, who is rolling over all his equity into the continuing entity, emphasised that CI has gained a partner aligned with its growth aspirations, one that will help accelerate its expansion and unlock greater value for clients.
CI Financial will remain headquartered in Toronto and continue to operate under its existing structure, branding and leadership. Mubadala Capital has committed to maintaining its Canadian operations and preserving its independence from Mubadala's broader portfolio.
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By integrating CI Financial, Mubadala Capital strengthens its position in private wealth management and continues its push into North American markets. The firm's strategic expansion aligns with its ambitions to build a robust, globally diversified asset management platform covering private equity, credit, special opportunities, and wealth services.
CI Financial's board, including a special committee of independent directors, had unanimously supported the transaction, highlighting the premium of C$32 per share—about 33 per cent above the prior closing price and 58 per cent above the 60-day volume-weighted average—as an excellent outcome for shareholders and a source of certainty amid volatile markets.
With regulatory approvals now secured, the deal shifts from strategy to execution. CI gains access to substantial long-term capital and Mubadala's global network, positioning it to scale key initiatives such as the expansion of Corient—the U. S. subsidiary—with its distinctive private partnership model preserved.
This landmark transaction marks one of the largest take-private deals in Canada in recent times. It signals Mubadala Capital's commitment to active participation in the private capital and wealth management space, building on previous large-scale investments such as Fortress Investment Group and others.
Emerging trends point to growing interest from sovereign wealth funds and private investors in acquiring established financial services firms. The CI deal serves as a case study in leveraging private ownership to provide operational flexibility, strategic focus, and capital stability while benefiting shareholders through a significant premium.
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