08:56 AM EST, 12/04/2024 (MT Newswires) -- The potential new owner of CI Financial Corp. ( CIXXF ) plans to double down on the wealth manager's acquisition-driven growth strategy of snapping up rival fund managers and financial advisory businesses in Canada and the United States, The Globe and Mail is reporting Wednesday.

In an exclusive interview with The Globe and Mail, Oscar Fahlgren, New York-based chief investment officer for Abu Dhabi's Mubadala Capital, said his firm's $4.7-billion buyout offer would give CI access to a larger pool of money to fund its ambitious growth plans in Canada and the U.S.

"For a company like CI, partnering with someone like ourselves that has access to long-term stable capital and can focus on executing growth opportunities both in Canada and in the U.S., we think long term is actually a better solution than staying in the public market, where there's pressure on dividends and share buybacks," Fahlgren said. "We see tremendous growth opportunities in both businesses. And we think the Canadian business is a little bit underappreciated by the market relative to the potential that we see."

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