Investment manager

CI Financial Announces the Launch of Axia Real Assets, a Global Real Estate and Infrastructure Investment Manager

TORONTO–(BUSINESS WIRE)–CI Financial Corp. (“CI”) (TSX: CIX; NYSE: CIXX) today announced the launch of a newly formed joint venture, Axia Real Assets LP (“Axia”), an alternative investment manager focused on global real estate and infrastructure. The joint venture is independently operated and managed by Axia’s four founding partners.

Axia’s founding partners – Kelsey Boland, Darrell Shipp, Greg Stevenson and Joshua Varghese – have decades of combined experience and have managed over $50 billion in combined real-asset investments on behalf of institutional and Retail. Axia’s mandate is to create investment vehicles focused on a wide range of real estate and infrastructure assets around the world.

“We are delighted to support the launch of Axia and the work of this ambitious and proven group of investors with extensive experience in high-potential asset classes,” said Kurt MacAlpine, CEO of CI. “CI believes that alternative mandates can play a vital role in helping investors achieve their financial goals in an increasingly complex and demanding investment environment.

“CI’s growing presence in alternative solutions includes a series of industry-leading liquid alternative funds with $3.7 billion in assets*. We have also introduced innovative mandates – such as private real estate, private equity and credit – which have traditionally only been available to large institutional investors. We look forward to working with Axia to expand our alternative range with additional timely and high quality solutions.

“We have a strong historical relationship with CI and are very excited about CI’s vision for the future of asset and wealth management,” said Mr. Varghese, former portfolio manager at CI Global Asset Management ( “CI GAM”) specializing in real estate. . “The support of a large, forward-thinking company like CI will be instrumental for Axia to develop and distribute alternative investment products to investors.”

“As investors continue to diversify their portfolios to accumulate long-term wealth, we believe the opportunities for global real assets are significant,” Stevenson said. “The joint venture with an established and successful organization such as CI puts us in a strong position to capitalize on these opportunities.”

The founding partners have extensive experience in managing public and private investments in the real estate and infrastructure sectors. MM. Boland, Shipp and Stevenson worked together in a multi-billion dollar asset management company focused on real estate.

Mr. Shipp was Managing Director and Partner and contributed to the growth and success of the business through a variety of roles which included operations and leading the investment management team. He worked closely with Mr. Stevenson to build a portfolio of commercial properties in the United States anchored by grocery stores, which was listed as a real estate investment trust (“REIT”) on the Toronto Stock Exchange in 2014 Mr. Stevenson served as Chief Executive Officer. of the REIT until 2020. Mr. Boland was a member of the investment team and had experience in all asset classes and in mergers and acquisitions.

As a portfolio manager at CI GAM, Mr. Varghese was responsible for a multi-billion dollar portfolio of global real estate stocks and actively engaged with portfolio companies in corporate level transactions. strategic.

Axia is based in Toronto and plans to launch its first investment solutions in the summer of 2021. More information is available at www.axiarealassets.com.

* Assets under management as of February 28, 2021.

About CI Financial

CI Financial Corp. is an independent firm offering global asset management and wealth management advisory services. CI managed and advised approximately C$236.5 billion (US$185.7 billion) in client assets as of February 28, 2021. CI’s principal asset management businesses are CI Global Asset Management (CI Investments Inc .) and GSFM Pty Ltd., and it operates in Wealth Management in Canada through Assante Wealth Management (Canada) Ltd., CI Private Counsel LP, Aligned Capital Partners Inc., CI Direct Investing (WealthBar Financial Services Inc.) and CI Investment Services Inc.

CI’s US wealth management businesses include BDF LLC, Bowling Portfolio Management LLC, The Cabana Group, LLC, Congress Wealth Management, LLC, Doyle Wealth Management, LLC, One Capital Management, LLC, The Roosevelt Investment Group, LLC, RGT Wealth Advisors, LLC, Stavis & Cohen Private Wealth, LLC and Surevest LLC.

CI is listed on the Toronto Stock Exchange under CIX and on the New York Stock Exchange under CIXX. Further information is available at www.cifinancial.com.

All financial amounts in Canadian dollars, unless otherwise indicated.

This press release contains forward-looking statements regarding anticipated future events, results, circumstances, performance or expectations regarding CI Financial Corp. (“CI”) and its products and services, including its business operations, strategy and financial performance and condition. Forward-looking statements are generally identified by words such as “believe”, “expect”, “anticipate”, “plan”, “anticipate”, “intend”, “estimate”, “objective”, “plan” and “project” and similar references to future time periods, or conditional verbs such as “will”, “may”, “should”, “could”, or “would”. These statements are not historical facts, but rather represent management’s beliefs regarding future events, many of which, by their nature, are inherently uncertain and beyond management’s control. Although management believes that the expectations reflected in these forward-looking statements are based on reasonable assumptions, these statements involve risks and uncertainties. Important factors and assumptions applied in reaching the conclusions contained in these forward-looking statements include that the investment fund industry will remain stable and that interest rates will remain relatively stable. Factors that could cause actual results to differ materially from expectations include, but are not limited to, general economic and market conditions, including interest and currency exchange rates, global financial markets, changes in government regulations or tax laws, industry competition, technological developments and other factors described or discussed in CI’s disclosure documents filed with applicable securities regulatory authorities from time to time. The foregoing list is not exhaustive and the reader is urged to carefully consider these and other factors and not to place undue reliance on any forward-looking statements. Except as specifically required by applicable law, CI undertakes no obligation to update or change any forward-looking statement after the date it is made, whether to reflect new information, future events or otherwise.

CI Global Asset Management is a registered business name of CI Investments Inc.