CI Global Asset Management (CI GAM), the Canadian arm of CI Financial Corp., has agreed to acquire the management agreements for Invesco Ltd.’s Canadian fund business, which consists of 100 mutual funds and exchange‑traded funds with roughly C$26 billion in assets under management. Under the deal, CI GAM will assume management of the entire portfolio while Invesco will continue to provide portfolio‑management services to 63 of the funds through a sub‑advisory arrangement that represents about C$13 billion in AUM. The transaction will lift CI GAM’s pro‑forma AUM to approximately C$170 billion upon completion.
CI GAM’s CEO, Kurt MacAlpine, said the acquisition will cement the firm’s ranking as one of Canada’s largest investment‑fund companies and position it for continued growth. By adding Invesco’s diversified product lineup, CI GAM gains new strategies and capabilities that broaden its offering to Canadian investors. The deal also leverages CI Financial’s private‑company status and recent ownership by Abu Dhabi‑based Mubadala Capital, allowing the firm to pursue aggressive scale without the constraints of public‑market scrutiny.
Invesco’s CEO, Andrew Schlossberg, highlighted the strategic benefits of the partnership, noting that the sub‑advisory arrangement will preserve Invesco’s global investment expertise in Canada while giving the company access to CI GAM’s extensive distribution network and operating platform. The arrangement allows Invesco to focus on its core global strategies while maintaining a presence in the Canadian market through a trusted local partner.
The transaction reflects broader consolidation trends in Canada’s asset‑management industry, where firms are seeking scale to compete with global players. Invesco, the world’s fourth‑largest ETF provider, is restructuring its Canadian operations to align with its global strategy, while CI GAM’s expansion positions it as the eighth‑largest ETF provider in Canada. The deal is expected to close in the second quarter of 2026, subject to regulatory approvals and customary closing conditions, including approval from the Canadian securities regulator and consent from the funds’ security holders.
The financial terms of the transaction have not been disclosed, and the parties have not announced any immediate impact on the operating performance of either firm. However, the acquisition is expected to generate synergies through cost efficiencies and cross‑selling opportunities, strengthening both companies’ competitive positions in a market that increasingly rewards scale and distribution reach.
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