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Sep 21, 2020

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

A pedestrian crosses Bay Street in the financial district of Toronto, Ontario, Canada, on Friday, May 22, 2020. Whether the PATH, a subterranean network that provides connections between major commuter stations, over 80 properties, including the headquarters of Canada's five largest banks, and 1,200 retail spots, can return to its glory days will depend initially on how quickly Bay St. firms return workers to their offices.

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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.

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.