Toronto firm CI Global Asset Management has teamed up with private equity firm Adams Street to distribute that firm’s private markets investment strategy to Canadian accredited investors.
“We’re excited to partner with CI,” said Jeff Diehl, managing partner and head of investments at Adams Street. “This is a unique opportunity for Canadian high-net-worth investors to access diversified, high-quality private markets opportunities.”
CI Global completed the initial public offering for the CI Galaxy Bitcoin Fund, sub-advised by Mike Novogratz’s Galaxy Digital, a few weeks ago.
Also in December, Adams Street raised $823 million in the final close of its 2020 Global Fund program. Officials at the $42 billion private markets specialist said that despite the complex fundraising environment due to the pandemic demand from new and existing investors globally remained robust.
“In partnering with Adams Street, we’re expanding the availability of an entire investing category to high-net-worth investors that was previously accessible only to institutional investors. We believe our partnership with Adams Street is the first of its kind in Canada,” said Kurt MacAlpine, CEO of CI Financial Inc., parent company of CI GAM. “This unique investment solution reflects our innovation and responsiveness to the evolving needs of investors as we modernize our wealth management platform.”
MacAlpine said that clients will benefit from Adams Street’s experience across the entire private markets spectrum and access to increased liquidity, open-ended subscriptions and attractive fees relative to traditional private equity offerings. As for CI, it currently manages over $2.7 billion in liquid alternatives.