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CI Financial unit acquires 49% stake in Redpoint Investment

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CI Financial unit acquires 49% stake in Redpoint Investment

CI Financial Corp. unit GSFM Pty. Ltd. acquired a 49% equity stake in Redpoint Investment Management Pty. Ltd.

Terms of the deal were not disclosed.

GSFM acquired the Redpoint stake previously held by MLC Asset Management, formerly NAB Asset Management. Redpoint management will continue to control 51% of the business.

Redpoint Investment is a boutique global equities manager with approximately A$10 billion in assets under management.