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Ci Financial To Acquire R.H. Bluestein & Co., A $4.1-Billion Detroit And New York-Based Ria Focused On Ultra-High-Net-Worth And High-Net-Worth Families

Nov 02, 2021•about 4 years ago

Acquiring Company

CI Global Asset Management

Acquired Company

4.1-Billion RIA

TorontoFinancial Services

Description

CI Financial Corp. (“CI”) (TSX: CIX; NYSE: CIXX) and R.H. Bluestein & Co. (“Bluestein”) today announced an agreement under which CI will acquire a majority interest in Bluestein, a Birmingham, Michigan and New York-based private client firm overseeing US$4.1 billion in assets.

Company Information

Company

CI Global Asset Management

Location

Toronto, Ontario, Canada

About

CI Global Asset Management (CI GAM) is one of Canada’s largest investment management companies. It offers a wide range of investment products and services. CI GAM is a subsidiary of CI Financial Corp., an integrated global asset and wealth management company. The firm is trusted for its expertise in portfolio construction and risk management.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed