NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART INTO THE UNITED STATES, TO U.S. NEWSWIRE SERVICES, OR OTHERWISE FOR DISSEMINATION TO THE UNITED STATES OF AMERICA
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.