CI Financial Corp. (CIXX)

CI Financial is an independent asset and wealth management firm based in Toronto, with roots going back to 1965. For decades it was best known in Canada for its CI Global Asset Management mutual fund and ETF business, and it later built a large wealth management arm in both Canada and the United States. The company's shares had long traded on the Toronto Stock Exchange under CIX.

Beginning around 2020, CI pursued an aggressive expansion into U.S. wealth management, acquiring a series of registered investment advisers that were later combined under the Corient brand. To raise its profile with U.S. investors, it listed its common shares on the New York Stock Exchange under the ticker CIXX in November 2020. The acquisition spree increased debt, and the stock traded at a discount to many peers despite rising assets.

In November 2024 CI agreed to be acquired by Mubadala Capital, the alternative asset management arm of Abu Dhabi's Mubadala Investment Company, for C$32.00 per share in cash. The deal valued CI's equity at roughly C$4.7 billion and its enterprise value at about C$12 billion including debt. The transaction required shareholder, court and regulatory approvals in several jurisdictions. The take-private was completed in August 2025, and the shares were delisted from both the TSX and the NYSE. CI Financial continues to operate as a privately held company under Mubadala Capital ownership.