CI Financial Corp and Mubadala Capital have completed the acquisition of CI Financial, one of North America’s leading diversified asset and wealth management firms.
The deal, valued at approximately $8.9 billion (C$12.1 billion), represents a major milestone in Mubadala Capital’s growth strategy and signals its deeper push into the private wealth management sector. The transaction was executed through a statutory plan of arrangement under the Business Corporations Act (Ontario).
As part of the arrangement, Mubadala Capital acquired all issued and outstanding common shares of CI Financial, excluding rollover shares, for cash consideration of $23.60 (C$32.00) per share. The acquisition values CI Financial’s equity at around $3.45 billion (C$4.7 billion) and places the firm’s enterprise value at $8.9 billion (C$12.1 billion).
Following the acquisition, Mubadala Capital now manages, advises, and administers over $430 billion in combined assets across its asset managers and strategic partners, including CI and its affiliates.
This expanded platform reflects Mubadala Capital’s commitment to building a global investment powerhouse offering alternative investments, private equity, credit, and comprehensive wealth management services.
CI Financial will continue to operate independently under its current structure, strategy, and leadership from its headquarters in Toronto. CEO Kurt MacAlpine is rolling all of his equity into the continuing company in partnership with Mubadala Capital, reinforcing his long-term commitment to the business.
Kurt MacAlpine CEO – CI Financial
“This is an exciting new chapter for CI Financial. 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.”
Hani Barhoush, CEO and Managing Director of Mubadala Capital stated that, “CI Financial is an incredible business that aligns closely with Mubadala Capital’s long-term vision and strategy. 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.”
The acquisition provides CI Financial with access to Mubadala Capital’s global capital base and strategic network, further enabling its U.S. subsidiary, Corient, to expand. Corient’s unique private partnership model remains unchanged and continues to be a key driver of its growth.
