ADIA, Bain Capital, Flexpoint and Ares to acquire a 20% stake in US wealth unit from CI Financial for $1.34bn.

ADIA, Bain Capital, Flexpoint and Ares, investors, agreed to acquire a 20% stake in US wealth unit from CI Financial, an investment management firm, for $1.34bn. “This investment from several leading global financial institutions validates our differentiated U.S. wealth management strategy and the considerable success we have achieved in just over three years building and executing on the growth of the business,” Kurt MacAlpine, CI CEO.