CI Financial acquires Invesco

CI Global Asset Management has finalized the acquisition of Invesco Canada's fund management agreements, expanding its assets under management by approximately C$27 billion. This strategic maneuver, completed on June 1, 2026, positions CI GAM as a more formidable player in the Canadian investment fund sector by significantly enhancing its suite of offerings. The acquisition was initially disclosed in January 2026 and marks a significant expansion of CI GAM's operations, bringing its total assets under management to around C$175 billion.

The transaction involves CI GAM assuming management over 98 previously Invesco-managed mutual and exchange-traded funds in Canada. In conjunction with the acquisition, CI GAM and Invesco have forged a long-term strategic alliance, whereby Invesco affiliates will continue to manage 61 funds through a sub-advisory contract that covers roughly C$13 billion in assets. This arrangement is intended to ensure continuity and maintain a seamless client experience for existing investors.

For CI GAM, this acquisition bolsters its market position by diversifying its product offerings and enhancing its ETF platform. The company is positioned to serve a broader array of advisors and investors with improved scale and capabilities. CI GAM's CEO, Kurt MacAlpine, emphasized the expanded ability to deliver comprehensive investment strategies and high-quality financial solutions across its Canadian operations, solidifying its leadership in the sector.

The acquisition fits into the larger competitive landscape of the Canadian investment fund market, where scale and diversification are crucial for gaining an edge. As CI GAM integrates Invesco Canada's business, its expanded product capability could intensify competition among major players, potentially driving further consolidation within the industry.

Regulatory approval for the acquisition was secured from the necessary securityholders in April 2026, and CI GAM plans to rebrand 37 of the acquired funds under its own name by the end of July 2026. This rebranding is likely a central focus as the company transitions its newly expanded fund lineup. Advisors to the transaction included Morgan Stanley & Co. LLC and Jefferies Securities Inc., with legal counsel from Borden Ladner Gervais LLP and Stikeman Elliott LLP. The ongoing developments in CI GAM and Invesco's collaboration may hint at future joint investment ventures targeted at the Canadian market.