On May 11, 2023, CI Financial Corp. announced that a group of investors including Bain Capital and the Abu Dhabi Investment Authority have acquired a minority stake in CI Private Wealth US.
Under the terms of the transaction, Bain Capital (“Bain”), a wholly owned subsidiary of the Abu Dhabi Investment Authority (“ADIA”), and others have acquired a combined 20 percent stake in CI Private Wealth US (“CI US”). The total investment in CI US amounts to approximately $1.0 billion. Following the transaction, CI Financial Corp. will continue to hold the remaining 80 percent of CI US.
Bain, based in Boston, is a private investment firm. As of 2022, Bain had approximately $165 billion in assets under management.
The ADIA independently manages and invests Abu Dhabi’s revenue. As of August 2022, the ADIA managed approximately $709 billion in client assets.
CI US, based in Miami, is the US wealth management subsidiary of CI Financial Corp. As of December 2022, CI US had approximately $180 billion in assets under management.
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