CI Global Asset Management (“CI GAM”) and Invesco Ltd., a leading global asset management firm, announced an agreement under which CI GAM will acquire the management agreements relating to Invesco’s Canadian fund business with combined total assets under management of approximately C$26 billion.
Under the terms of the agreement, CI GAM, the Canadian asset management subsidiary of CI Financial Corp. (“CI”), will become manager of 100 mutual funds and exchange-traded funds (funds) currently offered by Invesco Canada Ltd. Additionally, Invesco and CI GAM will enter into a long-term strategic partnership under which Invesco affiliates will continue to provide portfolio management services to 63 funds through a sub-advisory arrangement with total assets under management of approximately C$13 billion, providing securityholders with both a consistent investment experience and the benefits of the scaled operating and distribution platform of CI GAM.
As a result of the transaction, CI GAM’s assets under management will increase to approximately C$170 billion.
“This acquisition will cement our ranking as one of the largest investment fund companies in Canada and position the firm for continued growth,” said Kurt MacAlpine, CI Chief Executive Officer. “It also reflects CI Financial’s continued commitment to investing in our Canadian businesses and highlights how operating as a private company allows us to unlock new opportunities to create meaningful long-term value for CI and our clients.”
Invesco is recognized as a leading, diversified, global asset manager offering a breadth of public, private, active and passive investment capabilities, and is the fourth-largest ETF provider in the world.
“We are excited to partner with CI GAM to continue serving Canadian investors while accessing the vast wealth distribution footprint and scaled operating platform of one of Canada’s leading investment managers,” said Andrew Schlossberg, Chief Executive Officer of Invesco Ltd. “This represents a significant growth opportunity in a key asset management market, and we remain committed to supporting Canadian clients through our wide range of global investment strategies.”
Read More on Fintech : Global Fintech Interview with Mike Lynch, Principal, AI Strategy and Finance Transformation for Auditoria
“The addition of the Invesco Canada funds will extend and enhance our product lineup, adding significant new strategies and capabilities,” said Marc-André Lewis, CI GAM President and Chief Investment Officer. “Invesco Canada offers a robust lineup of high-quality mutual funds and ETFs, spanning traditional asset classes and alternatives and including a variety of innovative strategies. Their ETF business, with its broad selection of passive, factor-based and actively managed mandates, brings unique solutions to the Canadian marketplace.
“Furthermore, our strategic partnership with Invesco will ensure an ongoing relationship with one of the world’s largest asset managers and provide continuity for select funds which will continue to offer the expertise of Invesco’s global investment team,” Mr. Lewis said.
“This transaction builds on our success over the past six years in modernizing the CI GAM business into the scalable, integrated institutional-grade investment platform it is today,” Mr. Lewis said. “As our firm grows, CI GAM will have greater resources to offer advisors and their clients, delivering continued excellence in portfolio management, a comprehensive selection of high-quality investment solutions, and a high level of service.”
The transaction is expected to close in the second quarter of 2026, subject to customary closing conditions, including receipt of regulatory approvals. As part of the transaction, securityholders of each applicable Invesco Canada investment fund will be asked to approve the change of manager for their respective fund. Should any such fund not obtain the requisite securityholder approval it will be excluded from the transaction.
Catch more Fintech Insights : The Disappearing Payment: How Embedded Finance Is Quietly Reshaping B2B Transactions?
[To share your insights with us, please write to psen@itechseries.com ]
