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Bain, Abu Dhabi purchase 20% stake in CI Financial s US wealth unit

Bain and Abu Dhabi are among the investors buying a 20% stake in CI Financial Corp.'s U.S. wealth management unit.

United statesAbu dhabiAbuz abyUnited arab emiratesKurt macalpineBill hollandAres management corpAbu dhabi investment authorityCi financial corpBain capitalAbu dhabi investmentAres managementWall streetChief executive kurt

CI Financial sells $1 bln minority stake in US wealth management arm

CI Financial Corp will sell a 20% stake in its U.S. wealth management arm to Bain Capital LP and other investors for C$1.34 billion , the Canadian asset manager said on Thursday, pausing efforts. | May 11, 2023

Abu dhabiAbuz abyUnited arab emiratesUnited statesMaiya keidanFlexpoint fordKurt macalpineRichard changAbu dhabi investment authorityCi financial corpBain capitalAres managementExecutive kurt macalpineCi financial corp stock exchangePress releaseAusing cix ca1254911003

CI Financial selling stake in U S wealth business to pay down debt, shares soar

Group of institutional investors to pay $1.34-billion for minority investment

Abu dhabiAbuz abyUnited arab emiratesUnited statesKurt macalpineTijana martinFlexpoint fordCapital marketsMeagher flomAbu dhabi investment authorityCi financial corpStikeman elliottToronto stock exchangeCongress wealth managementBain capitalAres management

Bain, Abu Dhabi buy stake in CI Financial s U S wealth unit

The $1 billion cash injection gives the business an enterprise value of about $5.3 billion.

Abu dhabiAbuz abyUnited arab emiratesUnited statesKurt macalpineBill hollandCi financial corporationAres management corporationAbu dhabi investment authorityBain capitalAbu dhabi investmentWall streetIndustry newsM amp a

Bain, Abu Dhabi Buy Stake in CI Financial s US Wealth Unit

The deal allows CI Financial to pay down some of the debt it accumulated when it acquired dozens of wealth management offices across the US.

United statesAbu dhabiAbuz abyUnited arab emiratesBill hollandKurt macalpineAres management corpAbu dhabi investment authorityCi financial corpBain capitalAbu dhabi investmentAres managementWall streetChief executive officer kurt

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