{"id":17273,"date":"2021-09-14T09:11:16","date_gmt":"2021-09-14T16:11:16","guid":{"rendered":"https:\/\/marketdepth.com\/?p=17273"},"modified":"2021-09-14T09:11:17","modified_gmt":"2021-09-14T16:11:17","slug":"ci-financial-acquires-portola-partners-for-5-2b","status":"publish","type":"post","link":"https:\/\/marketdepth.com\/ci-financial-acquires-portola-partners-for-5-2b\/","title":{"rendered":"CI Financial acquires Portola Partners for $5.2B"},"content":{"rendered":"\n
Toronto-based CI Financial (TSX: CIX; NYSE: CIXX) announced its acquisition of Portola Partners Group LLC early this morning.\u00a0<\/p>\n\n\n\n
Portola Partners is a Silicon Valley wealth management firm specializing in meeting the distinct needs of ultra-high-net-worth families. Managing US$5.2 billion in assets, \u201cthe Portola team and model will be valuable in fostering the development of our ultra-high-net-worth offering across CI Private Wealth,\u201d said Kurt MacAlpine, CI Chief Executive Officer<\/p>\n\n\n\n
“CI Private Wealth\u2019s wisely crafted professional services partnership model provides an unusually attractive, long-term growth opportunity for our future generations of advisors and leaders.”<\/p>Steve Rehmus, Portola Co-Managing Partner<\/cite><\/blockquote>\n\n\n\n
The acquisition is expected to push CI\u2019s U.S. wealth management assets and total assets globally to approximately C$103 billion and C$331 billion, respectively. “CI Private Wealth\u2019s wisely crafted professional services partnership model provides an unusually attractive, long-term growth opportunity for our future generations of advisors and leaders,” said Steve Rehmus, Portola Co-Managing Partner.\u00a0<\/p>\n\n\n\n
Increase Presence in Bay Area<\/h5>\n\n\n\n
With this acquisition, CI expands its presence in the San Francisco Bay Area, which the Company sees as \u201can important region of technology-driven wealth creation,\u201d as many of Portola\u2019s clients live in the San Francisco Bay area and include technology company founders, executives and venture capitalists.<\/p>\n","protected":false},"excerpt":{"rendered":"Toronto-based CI Financial (TSX: CIX; NYSE: CIXX) announced its acquisition of Portola Partners Group LLC early this morning.\u00a0 Wealth Management Firm Portola Partners is a Silicon Valley wealth management firm specializing in meeting the distinct needs of ultra-high-net-worth families. Managing US$5.2 billion in assets, \u201cthe Portola team and model will be valuable in fostering the… View Article<\/a>","protected":false},"author":3,"featured_media":17274,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"pmpro_default_level":0,"footnotes":""},"categories":[31,17,11,16],"tags":[],"acf":[],"yoast_head":"\n
CI Financial acquires Portola Partners for $5.2B - MarketDepth<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n