3 days ago
Mubadala completes acquisition of CI Financial
15 Aug 2025 11:13
A. SREENIVASA REDDY (ABU DHABI)Mubadala Capital has completed its previously announced acquisition of CI Financial Corp., one of North America's leading diversified asset and wealth management firms, the companies said in a joint statement. The deal is valued at C$12.1 billion ($8.9 billion).The transaction, which took effect on August 12, 2025, was executed through a statutory plan of arrangement under the Business Corporations Act (Ontario). Under the deal, Mubadala Capital acquired all outstanding CI common shares for C$32.00 per share, excluding rollover shares held by some executives, representing an equity value of approximately C$4.7 billion ($3.5 billion)."CI Financial is an incredible business that aligns closely with Mubadala Capital's long-term vision and strategy," said Hani Barhoush, CEO and Managing Director of Mubadala Capital. "By combining CI's wealth management expertise and long-standing client relationships with our alternative investment capabilities and global reach, we are building a differentiated platform focused on the thoughtful stewardship of capital — helping clients grow, preserve, and manage wealth across generations, while driving innovation in how wealth is served."Kurt MacAlpine, CEO of CI Financial, said: "This is an exciting new chapter for CI. In Mubadala Capital we've found the perfect partner – one who shares our aspirations and is committed to supporting the next phase of our journey. Together, we are uniquely positioned to expand our capabilities, accelerate growth and unlock even greater value for the clients we serve."Following the acquisition, Mubadala Capital now manages, advises, and administers more than $430 billion in combined assets for clients and limited partners through its asset managers and strategic partners, including CI and its will retain its headquarters in Toronto and continue operating independently under its current corporate structure, brand, and leadership team. MacAlpine will roll all of his equity into the continuing company in partnership with Mubadala shares are expected to be delisted from the Toronto Stock Exchange shortly, though it will remain a reporting issuer in all Canadian provinces. The acquisition also positions CI to further expand Corient, its US subsidiary, while preserving Corient's private partnership model.
'For Mubadala Capital, this investment enhances its strategic presence in the North American investment and wealth management sectors and underscores its ability to execute complex, high-value transactions,' a separate Mubadala statement said. 'It also complements Mubadala Capital's long-term approach to building resilient platforms in key global markets. This investment is designed to provide CI Financial with a stable, well-capitalised platform for future growth, including enhanced reinvestment capacity and continued expansion in its core markets.'
