CI Financial Inc. announced on Wednesday it is launching a new private investment product for accredited investors in Canada in a partnership between subsidiary CI Global Asset Management and U.S.-based Adams Street Partners LLC.
The CI Adams Street Global Private Markets fund is available now for subscriptions closing March 31.
“We’re expanding the availability of an entire investing category to high-net-worth investors that was previously accessible only to institutional investors,” said Kurt MacAlpine, CEO of CI Financial, in a release.
Private market investments are those made in entities that are not publicly listed or traded, and include venture capital, growth equity, buyouts and private credit.
CI Financial offers investment products on a prospectus-exempt basis in Canada to accredited investors who meet the minimum investment thresholds through registered dealers, the firm said in the release. CI Financial manages over $2.7 billion in liquid alternatives, as at Sept. 30, 2020, including CI Liquid Alternatives and CI Global Private Real Estate Fund.
CI Financial first announced a product development partnership with Adams Street in April 2020. Adams Street manages more than US$42 billion in assets on behalf of corporate and public pension plans, endowments, foundations, other institutional investors and high net worth investors. It has four offices in the United States, as well as offices in London, Munich, Singapore, Beijing, Tokyo and Seoul.