CI Global Asset Management (CI GAM), a unit of Canada’s CI Financial, has teamed up with Adams Street Partners to leverage the latter’s expertise in private markets investment management.
The tie-up results in the creation of an investment solution to help Canadian investors gain access to private investments in markets globally.
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Commenting on the alliance, Adams Street managing partner and head of Investments Jeff Diehl said: “This is a unique opportunity for Canadian high-net-worth investors to access diversified, high-quality private markets opportunities.”
In this context, the companies cited McKinsey & Company data that revealed thatglobal private market AUM increased by $4trn, surpassing the AUM growth rate in public market assets by 70%.
CI Financial CEO Kurt MacAlpine said: “In partnering with Adams Street, we’re expanding the availability of an entire investing category to high-net-worth investors that was previously accessible only to institutional investors.”
He added: “Our clients will benefit from Adams Street’s extensive experience across the entire spectrum of private markets and access to increased liquidity, open-ended subscriptions, and attractive fees relative to traditional private equity offerings.”
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By GlobalDataPrivate markets involve investments into companies not traded publicly on stock exchanges. The space is typically dominated by the ultra-wealthy and is illiquid, making it tough to pull out cash fast. However, the market is also said to offer high yields.
In November 2020, Macquarie Investment Management partnered with Wilshire Associates to offer private market solutions to mass affluent investors.
These investors can now avail “institutional-quality” private market offerings such as private equity, private debt, alternative yield, and private real assets.
Earlier last year, UBS signed a long-term alliance with Partners Group to offer the latter’s private markets investment capabilities to its wealth management clients.
