CI Global Asset Management (CI GAM) announced Tuesday that it has reached an agreement to acquire Invesco Ltd.’s Canadian fund business. The acquisition, which includes roughly 100 mutual funds and exchange-traded funds, adds around $26 billion CAD in assets to CI GAM’s lineup. Once the transaction is finalized, CI GAM’s total assets under management are projected to reach approximately $170 billion CAD.
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“This acquisition will cement our ranking as one of the largest investment fund companies in Canada and position the firm for continued growth,” said Chief Executive Officer of CI Financial, Kurt MacAlpine. “It also reflects CI Financial’s continued commitment to investing in our Canadian businesses and highlights how operating as a private company allows us to unlock new opportunities to create meaningful long-term value for CI and our clients.”
Sub-Advisory Arrangements
As part of a long-term partnership, Invesco will continue managing 63 of the acquired funds as sub-advisors, covering about $13 billion CAD in assets. The arrangement allows CI GAM to bring the funds into its lineup while still drawing on Invesco’s global investment expertise for those portfolios.
“We are excited to partner with CI GAM to continue serving Canadian investors while tapping into the extensive distribution network of one of Canada’s leading investment managers,” said CEO of Invesco Ltd Andrew Schlossberg.
Timeline and Approvals
The transaction is expected to close in the second quarter of 2026, pending regulatory approval and the satisfaction of customary closing conditions. Among the Canadian funds included in the transaction are funds such as the Invesco S&P/TSX Canadian Dividend Aristocrats ESG Index ETF (ICAE) and the Invesco Canadian Dividend Index ETF (PDC).
Securityholders of the relevant Invesco Canada funds will be asked to vote on the proposed change of manager. Any fund that does not receive the required approval will be excluded from the deal.
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