CI Financial Corp., the Canada-based manager with c. CAD518.1bn (USD368bn) in client assets, has entered into a definitive agreement with an affiliate of Mubadala Capital, the alternative asset management arm of Mubadala Investment Company, to take CI private in a transaction that values CI’s equity at c. CAD4.7bn (USD3.3bn) and implies an enterprise value of c. CAD12.1bn (USD8.6bn). Following the closing of the transaction, CI will continue to operate with its current structure and management team and will be independent of Mubadala Capital’s other portfolio businesses. The transaction also supports CI’s expansion in the U.S., where it operates as Corient and will continue to operate independently under the Corient brand.
