'Our strategic partnership will ensure an ongoing relationship with one of the world’s largest asset managers,' says CI GAM's president
CI Global Asset Management (CI GAM) has struck a deal to acquire the management agreements for Invesco Ltd.’s Canadian fund business, adding approximately $26 billion in assets under management and significantly expanding its footprint in the domestic market.
According to the press release issued Tuesday, CI GAM, the asset management subsidiary of CI Financial Corp., will assume management of 100 Invesco Canada mutual funds and ETFs. In parallel, the firms will establish a long-term strategic partnership under which Invesco affiliates will continue to act as sub-advisors on 63 funds, representing about $13 billion in assets. Those funds will retain Invesco’s portfolio management while moving onto CI GAM’s broader operating and distribution platform.
CI's CEO Kurt MacAlpine said the deal underscores CI Financial’s ongoing commitment to its Canadian business "and highlights how operating as a private company allows us to unlock new opportunities to create meaningful long-term value for CI and our clients."
Invesco, one of the world’s largest diversified asset managers and the fourth-largest ETF provider globally, views the arrangement as a way to strengthen its presence in a key market while leveraging CI GAM’s scale in wealth distribution and operations.
"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," said Invesco's CEO Andrew Schlossberg.
Meanwhile, Marc-André Lewis, president and chief investment officer of CI GAM, said the addition of the Invesco Canada lineup will broaden CI GAM’s offering across traditional and alternative asset classes, while adding a wide range of passive, factor-based and actively managed ETF mandates.
"Our strategic partnership with Invesco will ensure an ongoing relationship with one of the world’s largest asset managers and provide continuity for select funds which will continue to offer the expertise of Invesco’s global investment team,” he said in the release.
Following completion of the transaction, CI GAM’s total assets under management are expected to rise to roughly $170 billion, reinforcing its position among the largest investment fund companies in Canada. The transaction is expected to close in Q2 of 2026, subject to regulatory and securityholder approvals.
