CI Global Asset Management and HarbourVest Partner to Offer Private Infrastructure Investment Solution

Rhea-AI Summary

CI Global Asset Management has partnered with HarbourVest Partners to offer Canadian accredited investors access to a diversified global portfolio of private infrastructure investments. This partnership aims to provide stable, inflation-protected income opportunities at a time of market uncertainty, leveraging HarbourVest's extensive experience in private markets investing. The targeted sectors include utilities, transportation, renewable energy, and communications, enhancing CI GAM's existing alternative investment offerings, which include a private credit fund and a global real estate fund.

Positive

• Partnership with HarbourVest allows access to a diversified global portfolio of private infrastructure investments.
• HarbourVest's 40 years of private markets experience enhances investment quality.
• Focus on core infrastructure sectors expected to deliver stable, inflation-protected income.
• CI GAM expands its alternative investment solutions, including private credit and equity markets funds.

Negative

• None.

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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.

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.

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/or HarbourVest Partners 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.

This document contains forward-looking statements concerning anticipated future events, results, circumstances, performance or expectations with respect to CI Global Asset Management (“CI GAM”) and/or HarbourVest Partners and their products and services, including its business operations, strategy and financial performance and condition. Forward-looking statements are typically identified by words such as “believe”, “expect”, “foresee”, “forecast”, “anticipate”, “intend”, “estimate”, “goal”, “plan” and “project” and similar references to future periods, or conditional verbs such as “will”, “may”, “should”, “could” or “would”. These statements are not historical facts but instead represent management beliefs regarding future events, many of which by their nature are inherently uncertain and beyond management’s control. Although management believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, such statements involve risks and uncertainties. The material factors and assumptions applied in reaching the conclusions contained in these forward-looking statements include that all announced transactions will be completed and that assets levels do not decline prior to completion, the investment fund industry will remain stable and that interest rates will remain relatively stable. Factors that could cause actual results to differ materially from expectations include, among other things, general economic and market conditions, including interest and foreign exchange rates, global financial markets, changes in government regulations or in tax laws, industry competition, technological developments and other factors described or discussed in disclosure materials filed with applicable securities regulatory authorities from time to time. The foregoing list is not exhaustive and the reader is cautioned to consider these and other factors carefully and not to place undue reliance on forward-looking statements. Other than as specifically required by applicable law, there is no obligation to update or alter any forward-looking statement after the date on which it is made, whether to reflect new information, future events or otherwise.

CI Liquid Alternatives™ is a trademark of CI Global Asset Management. CI Global Asset Management is a registered business name of CI Investments Inc.

©CI Investments Inc. 2022. All rights reserved.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220601005843/en/

Murray Oxby

Vice-President, Corporate Communications

CI Global Asset Management

416-681-3254

moxby@ci.com

Andrew Hopkins

Corporate Vice President

HarbourVest Partners, LLC

617-348-8372

ahopkins@harbourvest.com

Source: CI Global Asset Management

FAQ

What is the partnership between CI Global Asset Management and HarbourVest Partners?

CI Global Asset Management has partnered with HarbourVest Partners to provide Canadian accredited investors access to a diversified portfolio of private infrastructure investments.

What types of investments are included in the CI GAM and HarbourVest partnership?

The partnership focuses on core infrastructure sectors such as utilities, transportation, renewable energy, and communications.

How does HarbourVest's experience benefit CI GAM's investors?

HarbourVest brings 40 years of experience in private markets, promising high-quality infrastructure investments with stable revenue.

What are CI GAM's existing alternative investment offerings?

CI GAM offers a private credit fund, a global real estate fund, and CI Liquid Alternatives, which has approximately $3.7 billion in assets.

When was the partnership between CI GAM and HarbourVest announced?

The partnership was announced on June 1, 2022.