Mubadala Capital, the asset management subsidiary of Abu Dhabi's sovereign wealth fund Mubadala Investment Company, has completed its take-private acquisition of CI Financial, a Canadian wealth and asset management firm, in a transaction with an enterprise value of about C$12.1 billion (about USD 8.7 billion), or an equity value of about C$4.7 billion. The transaction closed in August 2025.
CI Financial operates across wealth advisory and asset management in Canada. In the years before the deal closed, the Toronto-listed company had also assembled a portfolio of United States registered investment adviser acquisitions. The take-private structure removes CI Financial from the Toronto Stock Exchange and consolidates ownership under its new Abu Dhabi owner, although CI will remain a reporting issuer in each Canadian province.
OWNERSHIP AND MANAGEMENT
CI continues to operate independently under its existing corporate structure, brands and management team led by chief executive Kurt MacAlpine. CI said the transaction positions it to continue expanding Corient, its US wealth management subsidiary.
TWG GLOBAL INVESTMENT
Earlier, on 30 April 2025, Mubadala agreed to anchor a USD 10 billion syndicated investment in TWG Global, which took a 5% stake in Mubadala Capital.
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