Canada’s CI Financial to spin off part of its U.S. wealth management business via IPO

CI Financial will remain the majority shareholder of the U.S. wealth management unit after the offering and plans to use the proceeds to pay down debt

plans to spin off up to 20 per cent of its U.S. wealth management business through an initial public offering, the Canadian asset and wealth manager said on Thursday.

The U.S. wealth management business has become CI Financial’s largest by assets with roughly $133-billion under management once all outstanding acquisitions are complete.

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