CI GAM, HarbourVest unveil infra solution for retail investors

CI Global Asset Management has partnered with HarbourVest Partners to offer a private infrastructure investment solution to Canadian accredited investors.

CI Global Asset Management has partnered with HarbourVest Partners to offer a private infrastructure investment solution to Canadian accredited investors. No financial terms were disclosed. CI GAM is a subsidiary of CI Financial Corp, a Toronto-based investment management company.

PRESS RELEASE

TORONTO–(BUSINESS WIRE)–CI Global Asset Management (“CI GAM”) today announced it has partnered with HarbourVest Partners (“HarbourVest”) to offer an investment solution providing Canadian accredited investors with access to a diversified global portfolio of private infrastructure investments.

“We’ve partnered with a global leader in private markets investing to provide access to attractive infrastructure investments – a compelling and timely investment opportunity in today’s uncertain markets,” said Kurt MacAlpine, Chief Executive Officer of CI Financial Corp., parent company of CI GAM.

“Core infrastructure offers the potential for steady, inflation-protected income and stable, lower-risk returns relative to other equity investments. HarbourVest’s deep private markets experience and relationships will provide our investors with exposure to a broader set of high-quality core infrastructure assets from developed markets globally, including many types of investments that simply aren’t available in the public markets.”

HarbourVest has 40 years of experience in private markets investing, including a successful 14-year track record in infrastructure investing through economic cycles and varied market conditions.

“We are pleased to partner with a leading institution in the Canadian marketplace,” said Peter Wilson, Managing Director, HarbourVest Partners. “HarbourVest has seen strong growth in Canada, driven in part by partnerships that allow us to provide our private markets expertise and platform to a broader group of accredited investors.”

Private market investments are those made in entities that are not publicly listed or traded. Core and core plus infrastructure sectors targeted by HarbourVest include: utilities, such as electricity and gas transmission, and water services; transportation, such as airports, toll roads, railroads and ports; renewable power generation; and communications, such as data centres and wireless networks. These investments are essential services, often monopolistic, quasi-monopolistic or long-term contracted, that show potential for stable revenue with cash flow profiles that may include significant inflation protection.

“With this partnership, CI GAM is once again making innovative institutional-quality alternative investment solutions available to a broader investing audience,” Mr. MacAlpine said.

“As capital markets become increasingly challenging to navigate, we believe that alternative investments have an important role in helping individual investors meet their financial objectives. As part of modernizing our asset management business, we have engaged experienced managers to build an industry-leading lineup of alternative investments.”

CI GAM also offers a private credit and equity markets fund and a global private real estate fund, which are available to accredited investors. Additionally, CI GAM manages a lineup of six fixed-income and equity liquid alternatives mandates with a total of approximately $3.7 billion in assets, the most of any firm in the Canadian industry. CI Liquid Alternatives™ are available in both mutual fund and exchange-traded fund structures.

Certain investment solutions offered by CI GAM are made in reliance on an exemption from the prospectus requirement in Canada, including accredited investors who meet the minimum investment thresholds, and other qualifying criteria, through registered dealers.

About HarbourVest

HarbourVest is an independent, global private markets firm with 40 years of experience and more than US$92 billion of assets under management as of December 31, 2021. Our interwoven platform provides clients access to global primary funds, secondary transactions, direct co-investments, real assets and infrastructure, and private credit. Our strengths extend across strategies, enabled by our team of more than 800 employees, including more than 175 investment professionals across Asia, Europe, and the Americas. Across our private markets platform, our team has committed more than US$49 billion to newly-formed funds, completed over US$40 billion in secondary purchases, and invested over US$27 billion in directly operating companies. We partner strategically and plan our offerings innovatively to provide our clients with access, insight, and global opportunities.

About CI Global Asset Management

CI Global Asset Management is one of Canada’s largest investment management companies. It offers a wide range of investment products and services and is on the Web at www.ci.com. CI Global Asset Management is a subsidiary of CI Financial Corp. (TSX: CIX, NYSE: CIXX), an integrated global asset and wealth management company with approximately $354.6 billion in assets as of April 30, 2022.