CI Global Asset Management to Acquire Invesco’s Canadian Fund Business in C$26B Deal 

CI Global Asset Management (CI GAM) and Invesco Ltd. have agreed to a transaction under which CI GAM will assume the management agreements for Invesco’s Canadian fund business with approximately C$26 billion in assets under management. CI GAM, the Canadian asset management subsidiary of CI Financial Corp., will become manager of 100 mutual funds and ETFs currently offered by Invesco Canada Ltd. 

As part of the deal, CI GAM and Invesco will also enter into a long-term strategic partnership. Invesco affiliates will continue to provide portfolio management through sub-advisory mandates on 63 funds, representing about C$13 billion in assets, allowing Canadian investors continued access to Invesco’s global investment capabilities under CI GAM’s management umbrella. 

Following the close of the transaction, CI GAM’s assets under management are expected to rise to roughly C$170 billion, reinforcing its position among the country’s largest investment fund manufacturers. “This acquisition will cement our ranking as one of the largest investment fund companies in Canada and position the firm for continued growth,” said Kurt MacAlpine, CEO of CI Financial. 

For Invesco, the agreement represents a strategic reshaping of its Canadian presence rather than an exit. “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 Andrew Schlossberg, CEO of Invesco Ltd. 

The transaction is expected to close in the second quarter of 2026, subject to customary conditions, including required regulatory and unitholder approvals.  

Morgan Stanley & Co. LLC and Borden Ladner Gervais LLP are advising Invesco, while Jefferies Securities Inc. and Stikeman Elliott LLP are serving as financial and legal advisors, respectively, to CI GAM.