CI Financial Corp has partnered with Adams Street Partners (Adams Street), a specialist in private markets investment management. Adams Street is developing investment solutions exclusively for CI that provide Canadian investors access to private investments in markets around the world.
“We believe private market and other alternative investments can provide investors with valuable benefits, including the potential for added diversification, stability and downside support,” said Kurt MacAlpine, CI Chief Executive Officer.
“Our liquid alternatives lineup has performed comparatively well during the recent volatility and we are expanding our product choices in alternatives by adding private markets options. Partnering with Adams Street allows us to benefit from their world-class expertise, leadership and more than 45 years’ experience in private markets investing, while customising investment solutions to meet the specific needs of our accredited investor clients.”
Adams Street was founded in 1972 and is a pioneer in private markets investment management. The independent, 100 per cent employee-owned firm is dedicated exclusively to private markets and manages USD40 billion. Adams Street has four offices in the United States, as well as offices in London, Munich, Singapore, Beijing, Tokyo and Seoul.
“We are pleased to join CI Financial in developing unique innovative private markets investment solutions for CI’s Canadian clients,” says Jeff Diehl, Managing Partner and Head of Investments at Adams Street. “Our partnership will allow us to provide Canadian investors with access to a global portfolio of private equity and private credit investments. Historically, these investments have primarily been available only to large institutional investors.”
CI’s initiative to expand its capabilities in alternative investments supports its three overall strategic priorities: modernising its asset management business; expanding its wealth management platform; and globalising the firm. Alternatives are playing an increasingly important role in CI’s wealth management business, given the relevance of these strategies for high-net-worth and ultra-high-net-worth clients.
“Institutional investors such as pension plans, endowments and foundations are increasingly focused on achieving returns based on their investors’ long-term objectives,” says MacAlpine. “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 USD1.3 billion in assets under management and are one of the top two managers in this category.”