CI Financial buying U.S. investment adviser Bowling Portfolio Management

TORONTO — CI Financial Corp. says it has signed a deal to acquire U.S. investment adviser Bowling Portfolio Management LLC.

The firm based in Cincinnati has US$450 million in assets under management.

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Financial terms of the transaction were not disclosed.

Bowling provides financial planning and investment management services to high-net-worth clients.

CI has been expanding its operations in the U.S. this year in a series of acquisitions.

It says when all pending transactions close, it will hold interests in wealth management firms across the U.S. with combined assets of approximately US$11.5 billion.

This report by The Canadian Press was first published Sept. 21, 2020.

Companies in this story: (TSX:CIX)

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