CI Financial Completes Sale to Mubadala Capital for C$12.1 Billion
Deal News | Aug 15, 2025 | Zawya
CI Financial Corp. has completed its acquisition by Mubadala Capital for C$12.1 billion, as announced on August 12, 2025. The transaction, conducted under a plan of arrangement, marks a strategic expansion for Mubadala Capital into private wealth management. Mubadala acquired all common shares, valuing CI's equity at C$4.7 billion. CI Financial, a Toronto-based asset and wealth management firm, will continue operating under its current structure. CI's CEO, Kurt MacAlpine, remains committed by rolling his equity into the ongoing company. The deal strengthens Mubadala's asset management platform, merging CI’s expertise with Mubadala’s global investment capabilities. The transaction also involves changes to CI's board of directors, with new appointments from Mubadala. Advisory roles were filled by prominent firms including INFOR Financial, Jefferies Securities Inc., and several legal counsel. CI shareholders need to act to submit relevant documents to facilitate the process. With the move, CI will delist from the Toronto Stock Exchange but will remain a reporting issuer in Canada.
Sectors
- Asset and Wealth Management
- Private Equity
- Corporate Finance and Legal Advisory
Geography
- Canada – CI Financial is headquartered in Toronto, and the transaction occurred under Canadian corporate law, impacting Canadian shareholders and financial markets.
- United Arab Emirates – Mubadala Capital, part of Mubadala Investment Company based in the UAE, spearheaded this acquisition, marking a strategic move by a major investment firm from the UAE.
Industry
- Asset and Wealth Management – The transaction focuses on the acquisition of CI Financial, a key player in the asset and wealth management industry, emphasizing Mubadala's expansion in this sector.
- Private Equity – Mubadala Capital's acquisition of CI Financial insights into private equity and alternative investment management, showcasing combined capabilities.
- Corporate Finance and Legal Advisory – The deal involved significant roles for financial advisors and legal advisors, highlighting the importance of corporate finance and legal expertise in M&A transactions.
Financials
- C$12.1 billion – Total enterprise value for the acquisition of CI Financial by Mubadala Capital.
- C$32.00 per share – Cash consideration paid per CI Financial common share.
- C$4.7 billion – Valuation of CI Financial's equity as part of the deal.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| CI Financial Corp | Target Company | Company | A diversified global asset and wealth management company headquartered in Toronto, involved in the transaction as the acquired entity. |
| Mubadala Capital | Bidding Company | Company | The global alternative asset management platform and acquirer of CI Financial, expanding its presence in private wealth management. |
| Kurt MacAlpine | CEO of CI Financial | Person | CEO of CI Financial who rolled his equity into the new structure, showing dedication to continuity. |
| Hani Barhoush | CEO and Managing Director of Mubadala Capital | Person | CEO of Mubadala Capital, highlighting the strategic importance of the acquisition. |
| INFOR Financial | Financial Advisor to CI Financial | Company | Served as the exclusive financial advisor for CI Financial in the transaction. |
| Jefferies Securities Inc. | Financial Advisor to Mubadala Capital | Company | Acted as lead financial advisor to Mubadala Capital for the acquisition. |
| Computershare Investor Services Inc. | Transfer Agent | Company | Responsible for receiving shareholder documentation related to the transaction. |