Toronto-based CI Financial Corp. announced Tuesday it is set to acquire a strategic interest in registered investment advisor (RIA) The Cabana Group, LLC.
Based in Fayetteville, Ark., Cabana specializes in offering risk-managed portfolios to retail clients and on a subadvisory basis to advisors and RIAs across the U.S., CI said in a release.
Cabana’s Target Drawdown Portfolios — currently available only in the U.S. — are designed to minimize losses within a predetermined drawdown parameter.
“Given current market conditions and the ongoing need for effective retirement solutions, there is a tremendous and timely opportunity to offer the Target Drawdown Series to a wider audience in both the U.S. and Canada,” CI CEO Kurt McAlpine said in a statement.
Terms of the deal were not disclosed.
Correction: A previous version of this article said CI Financial was acquiring a majority stake in The Cabana Group.