Nov 25 (Reuters) - Mubadala Capital, Abu Dhabi's

sovereign wealth fund, will take CI Financial ( CIXXF ) private

in a C$12.1 billion ($8.66 billion) all-cash deal, including

debt, the Canadian asset and wealth manager said on Monday.

Mubadala will pay CI Financial C$32 per share, representing

a more than 33% upside to the stock's Friday close.

Global mergers and acquisitions, outside the United States,

have seen an uptick in 2024 due to an improved financing market.

Deals announced worldwide in 2024 totaled $846.8 billion as

of Sept. 25, 14% more than the year-ago period, according to

data from Dealogic.

"Mubadala Capital invests with a long-term outlook and

represents long-term capital - providing stability and certainty

for CI's clients and employees," CI's CEO Kurt MacAlpine said in

a statement.

CI Financial's ( CIXXF ) shares have gained about 62% this year. In

May 2023, the company sold a 20% stake in its U.S. wealth

management arm to Bain Capital LP and other investors for C$1.34

billion.

($1 = 1.3978 Canadian dollars)

(Reporting by Pritam Biswas in Bengaluru; Editing by Maju

Samuel, Anil D'Silva and Shinjini Ganguli)