CI Global Asset Management Acquires Invesco Canada Fund Business

CI Global Asset Management has completed its acquisition of the C$27 billion Canadian fund business of Invesco Canada. The transaction, valued at $20 billion, was finalized as CI Global Asset Management (CI GAM), a subsidiary of CI Financial Corp., took over management agreements for Invesco's Canadian mutual funds and exchange-traded funds. This move notably increases CI GAM's assets under management to approximately C$175 billion, consolidating its position in the Canadian investment fund market.

Under the terms of the acquisition, announced in January 2026 and taking effect on June 1, 2026, CI GAM became responsible for 98 Invesco funds. As part of the strategic deal, Invesco affiliates will continue to manage around 61 of these funds through a sub-advisory agreement, covering C$13 billion in assets. This arrangement ensures ongoing familiarity for investors, with Invesco maintaining a role in portfolio management. Securityholder approval for the transaction was secured in April 2026.

The acquisition is intended to broaden CI GAM's investment offerings, especially enhancing its ETF platform. According to CI GAM CEO Kurt MacAlpine, the integration enhances the company's resources and capabilities, positioning it as a leading player in the Canadian investment landscape. The deal provides CI GAM with an expanded product lineup, enabling it to offer a comprehensive range of strategies that cater to diverse investor needs.

In the broader context, this acquisition is set against a backdrop of increasing consolidation among asset managers striving to achieve scale and diversify their offerings. CI GAM's expansion reflects a broader trend in the industry where firms aim to leverage scale for operational efficiency and to meet evolving client demands. It positions CI GAM to better compete with other major players in the Canadian market, where investment management firms are focusing on expanding their ETF and mutual fund offerings to capture more market share.

Looking ahead, CI GAM will rebrand 37 of the acquired Invesco funds under its own label by the end of July 2026. Both companies have also hinted at joint initiatives in the future, enhancing their collaboration to potentially develop new investment solutions for the Canadian wealth market. This strategic partnership, facilitated with financial advice from Morgan Stanley for Invesco and Jefferies Securities for CI GAM, sets the stage for ongoing engagement and growth within the industry.