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Investment solution leverages experience of leading global private markets investment firm
TORONTO (January 6, 2021) – CI Global Asset Management (“CI GAM”) today announced it has partnered with Adams Street Partners LLC (“Adams Street”) to offer an investment solution providing Canadian accredited investors with access to private investments in markets around the world. Adams Street is a global leader in private markets investment management.
“In partnering with Adams Street, we’re expanding the availability of an entire investing category to high-net-worth investors that was previously accessible only to institutional investors. We believe our partnership with Adams Street is the first of its kind in Canada,” said Kurt MacAlpine, Chief Executive Officer of CI Financial Inc., parent company of CI GAM. “This unique investment solution reflects our innovation and responsiveness to the evolving needs of investors as we modernize our wealth management platform.”
Private market investments are those made in entities that are not publicly listed or traded, and include venture capital, growth equity, buyouts, and private credit. The private market investing approach generally includes governance measures that allow portfolio managers to actively influence the performance of the underlying business. Private market investments are considered "illiquid," which means they are not easily sold.
“We’re excited to partner with CI,” said Jeff Diehl, Managing Partner and Head of Investments at Adams Street. “This is a unique opportunity for Canadian high-net-worth investors to access diversified, high-quality private markets opportunities.”
“We selected Adams Street as a partner based on its proven track record,” said Mr. MacAlpine. “Our clients will benefit from Adams Street’s extensive experience across the entire spectrum of private markets and access to increased liquidity, open-ended subscriptions, and attractive fees relative to traditional private equity offerings.”
Demand for private market investments has continued to climb over the past decade. Global private market assets under management (“AUM”) have grown by US$4 trillion, outpacing the rate of AUM growth in public market assets by 70%, according to McKinsey & Company figures.
CI offers investment solutions on a prospectus-exempt basis in Canada to accredited investors who meet the minimum investment thresholds through registered dealers.
As part of its initiative to modernize its asset management business and provide investors with a wide choice of relevant investment solutions, CI has become a leader in providing alternative investments to a broader audience of retail investors. CI manages over $2.7 billion in liquid alternatives, the most of any firm in the Canadian industry (Source: Canadian Association of Alternative Strategies & Assets; as at September 30, 2020). CI Liquid Alternatives™ are available in both mutual fund and exchange-traded fund structure. CI also offers CI Global Private Real Estate Fund, which is available to Canadian accredited investors and offers access to direct investments in properties around the world.
About Adams Street
Founded in 1972, Adams Street is a pioneer in private markets investment management. The independent, 100% employee-owned firm is dedicated exclusively to private market investments and manages greater than US$42 billion in assets on behalf of corporate and public pension plans, endowments, foundations, other institutional investors and high net worth investors across the globe. Adams Street has four offices in the United States, as well as offices in London, Munich, Singapore, Beijing, Tokyo and Seoul.
About CI Global Asset Management
CI Global Asset Management is one of Canada’s largest investment management companies. It offers a wide range of investment products and services and is on the Web at www.ci.com. CI GAM is a subsidiary of CI Financial Corp. (TSX: CIX, NYSE: CIXX), an independent company offering global asset management and wealth management advisory services with approximately $215.6 billion in total assets as at November 30, 2020.
This press release does not constitute an offer to sell, nor the solicitation of an offer to buy, securities in any jurisdiction.
For further information:
Senior Manager, Corporate Communications
CI Global Asset Management
This announcement is not for publication or distribution, directly or indirectly, in or into the United States of America. This announcement is not an offer of securities for sale into the United States. Any securities referred to herein have not been and will not be registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration. No public offering of securities is being made in the United States.
This communication is provided as a general source of information and should not be considered personal, legal, accounting, tax or investment advice, or construed as an endorsement or recommendation of any entity or security discussed. Individuals should seek the advice of professionals, as appropriate, regarding any particular investment. Investors should consult their professional advisors prior to implementing any changes to their investment strategies.
CI Liquid Alternatives™ is a trademark of CI Global Asset Management Inc. CI Global Asset Management is a registered business name of CI Investments Inc.
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