On September 9, 2025, CI Global Asset Management (CI GAM) has announced an agreement to acquire Forge First Asset Management Inc., a Toronto-based alternative asset manager with approximately $1 billion in assets under management. Forge First, led by CEO Andrew McCreath, COO/CFO Fatima Hirani, and CIO Keenan Murray, specializes in long-short investment strategies focused on North American securities, delivering consistent risk-adjusted returns and robust asset growth. The acquisition aims to strengthen CI GAM’s position in the rapidly growing alternatives sector, enhancing its lineup of liquid alternatives and private markets funds. Forge First manages four investment funds—two liquid alternatives mutual funds and two limited partnerships—distributed through major Canadian bank-owned dealers.

Morrison Park Advisors is acting as financial advisor and Borden Ladner Gervais LLP as legal advisor to Forge First, while Stikeman Elliott LLP is legal advisor to CI GAM.

The transaction, for which terms were not disclosed, is expected to close in the fourth quarter of 2025, pending regulatory approvals. Upon completion, Forge First will continue to operate under its current name, maintaining its commitment to providing alternative investment solutions to Canadian investors.