Canadian asset manager CI Financial has teamed up with Adams Street Partners, which focuses on private markets investment management.
Under the partnership, Adams Street will develop investment solutions for CI exclusively.
Through these solutions, investors in Canada can avail private investments in global markets.
CI CEO Kurt MacAlpine believes that the alliance will offer the firm more diversification and stability.
Adams Street managing partner and head of investments Jeff Diehl also welcomed the alliance, saying that it will offer Canadian investors access to private equity and private credit investments previously only accessible by large institutional investors.
MacAlpine noted: “Institutional investors such as pension plans, endowments and foundations are increasingly focused on achieving returns based on their investors’ long-term objectives.
“We are seeing the same trend with our high-net-worth clients, who are shifting their attention to longer-term wealth preservation and inter-generational planning.
“As one of Canada’s largest wealth managers for high net worth individuals, families and businesses, we are taking the lead in providing institutional-style investment mandates to meet our clients’ evolving needs. In offering private market solutions, we are building on the leadership we’ve established in liquid alternative funds, where we have $1.3bn in assets under management and are one of the top two managers in this category.”
The expansion of the alternatives offering through the private market option is said to comply with CI’s aim to upgrade its asset management unit and expand its wealth management platform.
The move also supports the firm’s goal of globalisation.
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