Abu-Dhabi’s state investment fund Mubadala Capital is set to buy Canadian asset manager CI Financial.
Mubadala is to pay C32 a share for Toronto-based CI Financial, 33% higher than last Friday’s closing price.
Last month Mubadala CEO Hani Barhoush said that his firm was pushing for more deals in North America.
CI has C$500bn in assets and is known for its substantial wealth management arm, with clients in the US and Canada.
Mubadala recently raised a $3.1bn private equity fund.
