On April 3, 2023, IGM Financial Inc., a leading Canadian wealth and asset management company and a member of the Power Corporation of Canada group, announced its acquisition of a 20.5% equity stake in Rockefeller Capital Management for USD$622 million (854,145,950.00 CAD). This transaction makes IGM the second-largest shareholder in Rockefeller, after Viking Global Investors. The Rockefeller family is also increasing its investment in the firm. This move aligns with IGM's strategy to extend its reach in the high-net-worth and ultra-high-net-worth segments and gain a foothold in the U.S. wealth market. James O'Sullivan, President and CEO of IGM Financial, sees this as a strategic opportunity, praising Rockefeller's brand and leadership under Gregory Fleming. Founded in 1882 by John D. Rockefeller, the advisory firm has witnessed significant growth, with its client assets increasing from under USD$18 billion in 2018 to over USD$100 billion as of March 31, 2023. In a concurrent transaction, IGM is selling Investment Planning Counsel (IPC) to The Canada Life Assurance Company for CAD$575 million. To finance these transactions, IGM has arranged short-term financing of CAD$850 million. The Rockefeller deal payment is due on June 2, 2023, while the IPC sale is set to close by year-end. Advisors for these transactions include Ardea Partners LP, Eversheds Sutherland, and Blake, Cassels & Graydon LLP. The IPC sale has received endorsement from BMO Capital Markets and was approved by IGM's Board of Directors.