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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.  

CI agreed to acquire majority stakes in Phoenix-based Surevest Wealth Management and California-based One Capital Management late last year.

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.