CI Financial to Acquire Majority Stake in Brightworth


March 22, 2021

On March 15, 2021, CI Financial Corp. announced that it will acquire a majority stake in Brightworth, LLC.

Under the terms of the transaction, CI Financial Corp. (“CI”) will acquire a majority stake in Brightworth, LLC (“Brightworth”). Seward & Kissel client Emigrant Partners, LLC (“Emigrant”) will remain a minority stakeholder of Brightworth, and will also gain a minority stake in CI via a rollover of its convertible loan with Brightworth. The transaction is expected to close in the second quarter of 2021, subject to regulatory approval and customary closing conditions. Terms of the deal were not disclosed.

CI (NYSE: CIXX), based in Toronto, is an independent company specializing in global asset management and wealth management advisory services. As of February 28, 2021, CI had approximately $185.7 billion in assets under management.

Brightworth, based in Atlanta, is a registered investment advisor. As of February 28, 2021, Brightworth had approximately $4.7 billion in assets under management. Raymond James & Associates acted as financial advisor to Brightworth on the transaction.

Emigrant is a New York based capital advisory services partner that specializes in non-voting, minority investments in wealth and asset managers. Emigrant is currently partnered with 18 firms with approximately $65 billion in aggregate assets under advisement and assets under management.

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