CI Financial Corp. (CI) has agreed to purchase an 80 per cent stake in Grant Samuel Funds Management (GSFM). The transaction is expected to close on or about 15 November 2016.

CI is a diversified wealth management firm with assets under management of CAD$112.2 billion (as of 31 October 2016). Based in Toronto, it offers a wide range of investment products and services, including a broad selection of portfolio management teams and mandates.

It will acquire the stake previously held by corporate advisory firm Grant Samuel, which established the funds management business in 2007. For the time being the business will continue to operate under the name GSFM.

To read the media release, click here.