CI Financial to Acquire Avalon Advisors


April 17, 2023

On March 21, 2023, CI Financial Corp. announced that it will acquire Avalon Advisors, LLC.

Under the terms of the transaction, CI Financial Corp. (“CI”) will acquire Avalon Advisors, LLC (“Avalon”). The transaction is expected to close by May 2023, subject to regulatory and other customary closing conditions. Terms of the deal were not disclosed. 

CI (NYSE: CIXX) is an independent company, based in Toronto, Canada, engaged in global asset management and wealth management advisory services. As of October, 2022, CI had approximately $364 billion in assets under management and advisement. 

Avalon, based in Houston, is a registered investment adviser specializing in wealth planning services, including financial planning and investment management. As of March 3, 2022, Avalon had $8.4 billion in assets under management. Ardea Partners served as Avalon’s investment banker.

To read the press release: please click here.

The opinions expressed are those of the author(s) and do not necessarily reflect the views of the firm or its clients, or any of its or their respective affiliates. This article is for general information purposes and is not intended to be and should not be taken as legal advice.