December 16, 2021

Columbia Pacific

CI Financial and Columbia Pacific of Seattle announced a strategic relationship in which CI will invest in the continued growth of Columbia Pacific's wealth management and alternative asset management firms. Under the agreements, CI will acquire Columbia Pacific Wealth Management (CPWM), which provides a full range of wealth management solutions to high-net-worth and ultra-high-net-worth clients. Additionally, CI will acquire a minority stake in Columbia Pacific Advisors (CPA), an alternative asset management firm that manages assets across a broad selection of institutional-caliber real estate private equity, direct lending, opportunistic and hedged strategies. CPWM has offices in Seattle and San Francisco and is led by managing partners Alex Washburn and Peder Schmitz, president Derek Crump, and Tyler Gaspard. The company was founded by Washburn, Schmitz, Stan Baty, and Dan Baty. As part of the transaction, CPWM owners will become equity partners in CI Private Wealth, the private partnership that holds CI's broader U.S. wealth management business. CPA was founded in 2006 by Alex Washburn, Stan Baty and Dan Baty. Following the completion of the Columbia Pacific transactions, the leadership teams at CPWM and CPA will remain in place. Berkshire Global Advisors served as exclusive financial advisor to CPWM and CPA, and Stradley Ronon Stevens & Young acted as legal advisor. CI's legal advisor was Hogan Lovells US. The transactions are expected to close later this month. Financial terms were not disclosed.