Atlanta-headquartered asset manager Invesco is stepping back from directly running its Canadian investment fund business.
The firm is handing management of roughly C$26 billion in mutual funds and ETFs to CI Global Asset Management in a transaction that reshapes its footprint north of the border while keeping its investment teams deeply involved.
Invesco has agreed to transfer management of 100 Canadian-listed investment funds to CI GAM, part of CI Financial, the parent company of US wealth manager Corient which announced some key strategic partnerships of its own last year to expand internationally.
While CI will take over fund operations, distribution and platform oversight, Invesco will continue to serve as portfolio manager on 63 of the strategies through long-term sub-advisory agreements covering about C$13 billion in assets.
The structure allows Invesco to maintain investment influence in Canada without owning the local fund platform and represents a strategic shift toward partnering rather than operating a standalone Canadian fund business.
“We are excited to partner with CI GAM to continue serving Canadian investors while accessing the vast wealth distribution footprint and scaled operating platform of one of Canada's leading investment managers,” said Andrew Schlossberg, CEO of Invesco. “This represents a significant growth opportunity in a key asset management market, and we remain committed to supporting Canadian clients through our wide range of global investment strategies.”
On the other side of the deal, CI Global Asset Management substantially expands its Canadian fund lineup and total assets under management, which will rise to approximately C$170 billion once the transaction closes. CI’s leadership described the acquisition as a growth accelerator for its domestic business.
“This acquisition will cement our ranking as one of the largest investment fund companies in Canada and position the firm for continued growth,” said CI CEO Kurt MacAlpine. “It also reflects CI Financial's continued commitment to investing in our Canadian businesses and highlights how operating as a private company allows us to unlock new opportunities to create meaningful long-term value for CI and our clients.”
Financial terms were not disclosed. The companies expect the transaction to close in the second quarter of 2026, subject to regulatory approvals and standard closing conditions.
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