CI Financial Corp. (“CI” or the “Corporation”) and Mubadala Capital announced the successful completion, effective August 12, 2025, of the previously announced acquisition of CI, one of North America’s leading diversified asset and wealth management companies. The C$12.1-billion transaction marks a significant milestone in Mubadala Capital’s growth ambitions, accelerating its expansion into private wealth management and cementing its position at the forefront of a rapidly evolving sector.
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This is an exciting new chapter for CI. … Together, we are uniquely positioned to expand our capabilities, accelerate growth and unlock even greater value for the clients we serve.
The transaction was completed by way of a statutory plan of arrangement (the “Arrangement”) under the Business Corporations Act (Ontario). Pursuant to the terms of the Arrangement, among other things, Mubadala Capital acquired all of the issued and outstanding common shares of the Corporation (“CI Shares”) for cash consideration equal to C$32.00 per share, other than Rollover Shares (as defined below). The transaction valued CI’s equity at approximately C$4.7 billion and implies an enterprise value of approximately C$12.1 billion.
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With this transaction, Mubadala Capital now manages, advises, and administers for clients and limited partners over US$430 billion in combined assets through its asset managers and strategic partners, including CI and its affiliates. The scale underscores Mubadala Capital’s vision to build a leading asset management platform that combines institutional-quality alternative investments across multiple asset classes and geographies, including private equity, credit, special opportunities with a focus on Brazil and other alternative investments, with comprehensive wealth management services.
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“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,” said Kurt MacAlpine, Chief Executive Officer of CI. “Together, we are uniquely positioned to expand our capabilities, accelerate growth and unlock even greater value for the clients we serve.”
CI’s headquarters remains in Toronto and the firm continues to operate independently under its current corporate structure, strategy, brand names and management team, led by Mr. MacAlpine. The CEO is rolling all1 of his equity into the continuing company in partnership with Mubadala Capital, demonstrating his commitment to their shared vision for CI.
With the transaction now closed, CI gains access to Mubadala Capital’s global network and capital resources to accelerate strategic initiatives and capitalize on new opportunities in the evolving asset and wealth management landscape in North America and globally. In particular, the transaction positions CI to continue the expansion of Corient, its U.S. subsidiary. The deal preserves Corient’s unique private partnership model, which has been a key driver of its success.
“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.”
The transaction builds on Mubadala Capital’s deep expertise in building and scaling complex, multi-jurisdictional businesses and positions the firm to support CI’s continued growth and innovation in serving clients.
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Source: businesswire