Invesco, an Atlanta-based company, has announced the sale of its Canadian investment fund business to CI Global Asset Management, a subsidiary of Mubadala Investment Company. The deal is valued at 18.7 billion Canadian dollars. The financial terms of the deal were not disclosed. CI will take over 100 mutual funds and exchange-traded funds (ETFs) from Invesco, which will increase the assets of the Toronto-based company to 170 billion Canadian dollars. Invesco will remain a sub-advisor to 63 of these funds, representing about half of the assets or 13 billion Canadian dollars. Andrea Raphael, Head of Communications at Invesco, announced this in a statement.
