Mackenzie Financial Corporation ("Mackenzie" or "Mackenzie Investments"), a subsidiary of IGM Financial Inc., has closed the previously announced transaction to acquire Power Corporation of Canada's ("PCC") 13.9 percent interest in China Asset Management Co., Ltd. ("ChinaAMC") for cash consideration of $1.15 billion.

The deal closed on January 12, 2023, and doubled Mackenzie's total interest in ChinaAMC to 27.8 percent.