Updated with correction
CI Financial announced the launch of Axia Real Assets, a joint venture which will invest in global real estate and infrastructure, a news release said Tuesday.
CI Financial has a 50% stake in the new firm, and its four founding partners own the balance, spokesman Murray Oxby said in an email.
CI will provide seed money to Axia to start new investment funds, but the amount isn't being disclosed, Mr. Oxby said.
Three of the four founding partners — Kelsey Boland, Darrell Shipp and Greg Stevenson — previously worked at real estate specialist Slate Asset Management.
At Slate, Mr. Boland was a director; Mr. Shipp was managing director and partner; and Mr. Stevenson was CEO of Slate's retail REIT.
Katie Fasken, a spokeswoman for Slate, did not immediately respond to a request for information about when the three former employees left the firm, who replaced them and the firm's assets under management.
Also joining Axia as a founding partner is Joshua Varghese, formerly a vice president and portfolio manager at CI Global Asset Management, a subsidiary of CI Financial. Mr. Oxby said Mr. Varghese's duties have been assumed by others.
"We're pleased to support the launch of Axia and the work of this ambitious and proven group of investors with extensive experience in high-potential asset classes," said Kurt MacAlpine, CEO of CI Financial, in the news release.
As of Feb. 28, CI Financial had C$236.5 billion ($185.6 billion) in assets under management and advisement of which CI Global Asset Management managed C$123 billion.
