CI Financial Completes Take-Private Deal with Mubadala Capital

Deal News | Aug 14, 2025 | Zawya

Mubadala Capital has completed the take-private acquisition of CI Financial Corp., a leading asset and wealth management firm in North America, effective August 12, 2025, for C$12.1 billion. This acquisition marks a significant step for Mubadala Capital's expansion into private wealth management, positioning them as a leading player in the industry. Under the terms of the arrangement, Mubadala Capital acquired all outstanding common shares of CI Financial, valuing the company's equity at approximately C$4.7 billion. CI Financial retains its headquarters in Toronto, operating independently under its current management. The CEO, Kurt MacAlpine, has rolled over his equity, partnering with Mubadala Capital for a shared vision of growth and expansion of CI’s capabilities. With CI now part of Mubadala Capital's portfolio, the firm manages over US$430 billion in assets. The acquisition also allows CI to expand its U.S. subsidiary, Corient, while preserving its unique private partnership model. Mubadala Capital intends to thoughtfully manage, grow, and preserve wealth for clients across generations while driving innovation within the sector. Post-acquisition, new board members have been appointed, and developments are expected to continue with a potential amalgamation arrangement.

Sectors

Asset Management
Private Equity
Wealth Management

Geography

Canada – CI Financial, headquartered in Toronto, Canada, is the focal company in the transaction.
United Arab Emirates – Mubadala Capital is a subsidiary of Mubadala Investment Company, based in the UAE.
United States – CI Financial's growth strategy includes expanding its U.S. subsidiary, Corient.

Industry

Asset Management – The article deals extensively with CI Financial, which operates as a diversified asset and wealth management company, and Mubadala Capital's interest in expanding its presence in private wealth management.
Private Equity – Mubadala Capital, which specializes in private equity and alternative investments, is a key player in the acquisition of CI Financial, highlighting this industry.
Wealth Management – CI Financial is a wealth management company, and the transaction supports Mubadala Capital's strategy to expand in this sector.

Financials

C$12.1 billion – Total transaction value for the acquisition of CI Financial by Mubadala Capital.
C$32.00 per share – Cash consideration paid per CI Financial common share.
US$430 billion – Assets managed by Mubadala Capital post-transaction.

Participants

Name	Role	Type	Description
CI Financial Corp.	Target Company	Company	A leading diversified asset and wealth management company based in Toronto, Canada.
Mubadala Capital	Bidding Company	Company	A global alternative asset management platform and the investment arm of the Mubadala Investment Company, seeking strategic investments.
MC Accelerate Co-Invest LP	Bidding Company	Company	An entity managed by Mubadala Capital responsible for acquiring CI Shares.
Computershare Investor Services Inc.	Shareholder Services	Company	Responsible for handling share-related transactions and inquiries.
INFOR Financial	Financial Advisor	Company	Served as exclusive financial advisor to CI's Special Committee.
Wildeboer Dellelce LLP	Legal Advisor	Company	Legal advisor to the Special Committee of the CI Board of Directors.
Stikeman Elliott LLP	Legal Advisor	Company	Legal advisor to CI Financial during the transaction.
Jefferies Securities Inc.	Lead Financial Advisor	Company	Provided lead financial advisory services to Mubadala Capital.
Kurt MacAlpine	CEO	Person	Chief Executive Officer of CI Financial, maintaining leadership post-transaction.
Hani Barhoush	CEO	Person	CEO and Managing Director of Mubadala Capital.
William Butt	Former Director	Person	Resigned from CI's Board of Directors following the transaction.
Murat Konuk	Board Member	Person	Joined CI's Board of Directors post-acquisition; Senior Principal at Mubadala Capital.