Mubadala expands its North American finance footprint: Mubadala-backed CIFinancial ’s subsidiary CI Global Asset Management (CI GAM) will acquire the management agreements for global asset management firm Invesco ’s Canadian fund business, covering about CAD 26 bn (c.USD 18.7 bn) in assets, according to a press release. The transaction, expected to close in 2Q 2026, is subject to regulatory and securityholder approval. Any fund not receiving securityholder approval will be excluded.

The details: The firm will take over management of 100 mutual funds and ETFs offered by Invesco Canada. Invesco affiliates will continue managing 63 funds, representing roughly CAD 13 bn (USD 9.4 bn) in assets under management through a long-term sub-advisory partnership. CI GAM’s total AUM will rise to around CAD 170 bn (c.USD 122.5 bn) following this transaction.

Why it matters: Mubadala is quietly growing its influence in global finance through CI Financial, after taking it private last August. It also completed the acquisition of alternative asset manager Forge First Asset Management in December, adding four alternative investment funds with USD 900 mn in combined assets to its portfolio, and is a majority shareholder in US-based asset manager Fortress.

ADVISORS– Morgan Stanley & Co. is providing financial advice to Invesco, and Borden Ladner Gervais is serving as counsel. Jefferies Securities is CI GAM’s financial advisor, with Stikeman Elliott providing counsel.

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