Investors enjoy increased access to innovative solutions through new Canadian dollar purchase option and monthly subscription

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TORONTO--(BUSINESS WIRE)--Mar. 27, 2025-- CI Global Asset Management(“CI GAM”) today announced enhancements to its private markets funds designed to make these innovative investment solutions accessible to a broader range of accredited investors.

Starting next month, CI Private Markets Growth Fund and CI Private Markets Income Fund (the “Funds”) will begin offering:

• A Canadian dollar purchase option in addition to the existing U.S. dollar purchase option.
• A monthly subscription schedule and monthly pricing, replacing the current quarterly schedule.

“With these changes, we continue to make it easier for accredited Canadian investors to realize the benefits of private markets investing,” said Marc-André Lewis, President and Chief Investment Officer of CI GAM and Co-Lead Portfolio Manager of the Funds.

“An allocation to private markets can make for better diversified and more resilient portfolios, which is especially valuable at this time of increasing economic and political uncertainty. With the convenience of a single purchase, our Funds provide exposure to a portfolio of global private markets strategies from leading alternative investment managers, with the choice of a growth or income focus.”

The Funds use an open-architecture, fund-of-funds structure in which CI GAM manages the selection of strategies and managers, asset allocation and portfolio construction. CI GAM’s approach overcomes the barriers to investing in private markets typically faced by individual investors, such as high investment minimums and difficulties in selecting managers and funds.

The Funds also offer investors the advantages of scale, with combined assets under management of approximately $2.2 billion (as of December 31, 2024).

New Canadian dollar purchase option

Starting April 1, 2025, the Funds will offer a Canadian dollar purchase option for all Series, in addition to the existing U.S. dollar purchase option. The minimum investment for the new Series F Canadian dollar purchase option will be C$25,000, while the minimum investment for Series F U.S. dollar purchase option will remain at US$25,000. Investments through the Canadian dollar purchase option will not be hedged. The change removes the administrative burden for many investors and dealers of making investments in U.S. dollars.

Monthly subscription schedule

Also effective as of April 1, 2025, the Funds will adopt a monthly subscription schedule under which investor capital will be invested in the Funds on the last business day of each month (the “Subscription Date”). Previously, the Subscription Date was the last business day of each quarter. The change means that investors will typically face a shorter waiting period before their capital is put to work in the Funds.

As part of the change, the Funds will be priced monthly, providing more frequent reporting of the Funds’ performance. The net asset value (“NAV”) per unit will be struck for the last business day of each month and the NAV for each Fund is expected to be available on or about the last business day of the following month. Currently, the Funds are priced on a quarterly basis.

Advantages of CI Private Markets Funds

“Large institutional investors have recognized the value of private markets for many years,” said Mr. Lewis. “At CI GAM, we have carefully and thoughtfully designed the Funds to make it as convenient as possible for individual Canadian accredited investors to access this compelling group of asset classes. We have leveraged our scale, experience and relationships with leading alternative managers to offer what we believe are best-in-class solutions in this category in the Canadian marketplace.”

With a single investment, CI Private Markets Funds provide the following advantages:

• A multi-manager structure that provides diversification across regions, asset classes, managers and investment strategies.
• Exposure to the key asset classes within private markets – private equity, venture capital, private credit, private infrastructure and private real estate.
• Access to leading and emerging alternative investment managers, including Adams Street Partners, American Industrial Partners, Apollo Global Management, Ardian, Avenue Capital Group, Canal Road Group, Dawson Partners, Demopolis Equity Partners, HarbourVest Partners, Monarch Alternative Capital, Radical Ventures, T.Rx Capital, and 26North Partners.
• CI GAM’s expertise in portfolio management, including asset allocation, portfolio construction and risk management. In the area of manager selection, due diligence and monitoring, CI GAM is supported by a highly experienced alternatives team at its U.S. affiliate.
• Low minimum investment.
• No lock-up period, with redemptions available on a quarterly basis, subject to certain restrictions.
• The payment of quarterly distributions.
• Eligibility for registered plans, including registered retirement savings plans, registered retirement income funds, deferred profit-sharing plans, registered education savings plans, registered disability savings plans, tax-free savings accounts and first home savings accounts.
• A cap on the all-in maximum management fee of the Series F units.¹
• The use of a liquidity sleeve to effectively manage redemption and capital calls, minimizing their impact on the rest of the portfolio.

Benefits of private markets investments

Private markets investments are those made in entities that are not publicly listed or traded. An allocation to private markets provides access to a wider range of investment opportunities and increased portfolio diversification. Assets under management in private markets globally exceed US$12 trillion² and are increasing, given that many growing companies are opting to stay private rather than list on public markets. Private markets also provide the potential for enhanced returns, reduced volatility and low correlation of returns relative to public markets.

Further information about CI GAM’s private markets solutions is available here.

About CI Global Asset Management

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 and is on the Web at www.ci.com. CI GAM is a subsidiary of CI Financial Corp. (TSX: CIX), an integrated global asset and wealth management company with approximately $529.4 billion in assets as at December 31, 2024.

1. The Series F capped fee applies to the management fee of the applicable Fund and the management fees of the underlying funds, which are paid by the Fund. If the total of the Fund’s Series F management fee and the weighted average management fee of the underlying funds is greater than the capped all-in management fee, CI GAM will absorb the excess. The Series F management fee is 0.65% for CI Private Markets Income Fund and 0.80% for CI Private Markets Growth Fund. The Series F capped all-in maximum management fee is 1.53% and 1.63%, respectively. The Series F capped all-in management fee applies solely to management fees and does not cover operating expenses, performance fees, carried interest payments or taxes. No performance or incentives fees are payable directly to CI GAM by the Funds. The capped all-in management fee is for Series F only and does not apply to Series I or Series W units.

2. Source: Preqin, as of year-end 2023.

This announcement is not for publication or distribution, directly or indirectly, in or into the United States of America. This announcement is not an offer of securities for sale into the United States. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration. No public offering of securities is being made in the United States.

The Funds are not subject to rules and regulations that apply to publicly offered mutual funds, including restrictions intended to create diversification and liquidity in the Funds’ portfolio and certain ongoing public reporting requirements. Potential purchasers should carefully review the section entitled “Risk Factors” in each Fund’s Offering Memorandum before making any decision to subscribe for units.

The Funds have not been marketed, and are not available, to retail investors. The Funds are only being made available to “accredited investors” or pursuant to such other exemptions from the prospectus requirements under applicable securities legislation.

This communication is intended for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to purchase funds managed by CI Global Asset Management and is not, and should not be construed as, investment, tax, legal or accounting advice, and should not be relied upon in that regard. Every effort has been made to ensure that the material contained in this document is accurate at the time of publication. Individuals should seek the advice of professionals, as appropriate, regarding any particular investment. Investors should consult their professional advisors prior to implementing any changes to their investment strategies. These investments may not be suitable to the circumstances of an investor.

Adams Street Partners, LLC, and HarbourVest Partners L.P. are portfolio sub-advisors to certain funds offered and managed by CI Global Asset Management. The foregoing named sub-advisors, as well as other investment managers represented in the private markets solutions, including AIP, LLC, ARDIAN France, ARIS Management, LLC, Avenue Capital Management II, L.P., Avenue Europe International Management, L.P., Canal Road Capital, LLC, Dawson Partners Inc., Demopolis Equity Management, LLC, Monarch Alternative Capital LP, Radical Ventures Investments Inc. and T.Rx Cap, LLC, and 26North Private Equity LP, have not (i) explicitly or implicitly endorsed or approved nor (ii) been involved in the preparation of the information contained herein.

Certain names, words, titles, phrases, logos, icons, graphics, or designs in this document may constitute trade names, registered or unregistered trademarks or service marks of CI Investments Inc., its subsidiaries, or affiliates, used with permission. All other marks are the property of their respective owners and are used with permission.

CI Global Asset Management is a registered business name of CI Investments Inc., a wholly owned subsidiary of CI Financial Corp. (TSX: CIX).

©CI Investments Inc. 2025. All rights reserved.

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Murray Oxby
Vice-President, Corporate Communications
CI Global Asset Management
416-681-3254
moxby@ci.com

Source: CI Global Asset Management