Canada's CI Global Asset Management Inks Invesco Funds Deal

Tom Burroughes

15 January 2026

CI Global Asset Management has agreed to buy the Canadian fund business agreements of Invesco Ltd, a deal comprising about C$26 billion of assets under management.

As a result of the deal, CI GAM’s AuM will increase to about C$170 billion, CI said in a statement this week.

CI GAM, the Canadian asset management subsidiary of CI Financial Corp, will manage 100 mutual funds and exchange-traded funds offered by Invesco Canada Ltd.

Invesco and CI GAM will enter a strategic partnership under which Invesco affiliates continue to provide portfolio management services to 63 funds through a sub-advisory arrangement with total assets under management of approximately C$13 billion.

“This acquisition will cement our ranking as one of the largest investment fund companies in Canada and position the firm for continued growth,” Kurt MacAlpine, CI’s chief executive, said. He added that the deal shows that CI will benefit from the flexibility of being a privately held financial institution. CI Financial was taken private more than a year ago in a C$4.7 billion deal with Abu Dhabi-based Mubadala Capital.

“This represents a significant growth opportunity in a key asset management market, and we remain committed to supporting Canadian clients through our wide range of global investment strategies,” Andrew Schlossberg, CEO of Invesco Ltd, said.

The transaction is expected to close in the second quarter of 2026, subject to customary closing conditions, including receipt of regulatory approvals.

As part of the deal, securityholders of each applicable Invesco Canada investment fund will be asked to approve the change of manager for their respective fund.

Morgan Stanley & Co is acting as financial advisor and Borden Ladner Gervais is legal advisor to Invesco. Jefferies Securities is acting as financial advisor and Stikeman Elliott is legal advisor to CI GAM.