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CI Financial to Acquire Seattle-Based Columbia Pacific Wealth Management.

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MANews-(C)2009-2021

Canada-based asset management company CI Financial Corp. (TSX: CIX) (NYSE: CIXX) has partnered with Seattle-based asset management company Columbia Pacific in an agreement under which CI will invest in the continued growth of Columbia Pacific's wealth management and alternative asset management firms, the company said.

Terms of the transaction were not disclosed.

Under the agreements, CI will acquire Columbia Pacific Wealth Management (CPWM), which has USD 6.4bn in total assets under management and provides a full range of wealth management solutions to high-net-worth and ultra-high-net-worth clients on the West Coast and across the United States.

CI will acquire a minority stake in Columbia Pacific Advisors, LLC (CPA), an alternative asset management firm that manages USD 3.5bn in total assets under management across a broad selection of institutional-caliber real estate private equity, direct lending, opportunistic and hedged strategies.

Columbia Pacific Wealth Management...

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