Kurt MacAlpine, the CEO of CI Financial, has been at the center of a significant transaction. The once-aggressive US acquisition strategy of this financial giant is now taking a new turn with its acquisition by Mubadala Capital, an alternative asset management arm of Mubadala Investment Company. This deal values CI Financial at approximately $8.7 billion and offers a 33 percent premium on the last closing price.

Preserving the Core

CI will continue to operate with its current structure and management team, with Kurt MacAlpine remaining in his role. The shares held by senior management will enter into equity rollover agreements, ensuring a smooth transition. This deal provides certainty to shareholders while CI pursues its ongoing transformation. As William E. Butt, CI's lead director and chair of the special committee, stated, "This transaction represents an exceptional outcome for CI shareholders and provides significant benefits to Canada."

Benefits for Canada

The acquisition by Mubadala Investment Company brings valuable long-term capital to underpin the building of a Canadian champion in the wealth and asset management industries. This infusion of capital will support CI's expansion into the US market under the Corient brand. MacAlpine had previously indicated that Corient would go public via an IPO in 2026, and this deal paves the way for that growth.

Unique Partnership Model

The transaction preserves Corient's structure and its unique Private Partnership model. Under this model, 250 colleagues are equity Partners in Corient, creating a highly differentiated culture of collaboration and unified purpose. As MacAlpine said, "Our partnership model allows us to deliver the best of the firm to all clients and sets us apart in the industry."

Working with the New Owner

Hani Barhoush, managing director and CEO of Mubadala Capital, expressed his enthusiasm for working with the CI management team. He said, "We are fully aligned with the strategy and direction of the firm and look forward to continuing to build this outstanding business." This collaborative approach is expected to lead to continued success for CI.