On February 22, 2022, CI Financial Corp. completed an agreement to acquire Corient Capital Partners, LLC, a Newport Beach wealth management firm with assets of US$5.0 billion. Corient, founded in 2015, specializes in serving ultra-high-net-worth clients, including entrepreneurs and athletes, and aligns with CI Private Wealth's vision. The acquisition, supported by an equity investor since 2020, Merchant Investment Management, LLC, will bolster CI's U.S. Wealth Management assets to US$125 billion and, after other transactions, bring its global assets under management to US$311 billion. CI CEO Kurt MacAlpine praised Corient for its growth and dedication, while Corient Partner Darren Henderson expressed enthusiasm about joining CI Private Wealth. The transaction is poised to enhance CI's standing in the wealth management sector, particularly in the ultra-high-net-worth segment, and solidify its expansion in the Los Angeles area. Expected to close in the second quarter of 2022, the transaction awaits regulatory approval. Advisory services were provided by Ernst & Young Capital Advisors, LLC to Corient, with Alston & Bird offering legal advice. CI's legal counsel was Hogan Lovells US LLP.