WisdomTree Investments, Inc. Completes Sale of Canadian Asset Management Business to CI Financial Corp.
NEW YORK, Feb. 20, 2020 (GLOBE NEWSWIRE) -- WisdomTree Investments, Inc. ("WisdomTree") (NASDAQ: WETF), an exchange-traded fund ("ETF") and exchange-traded product ("ETP") sponsor and asset manager, announced today that it has completed its previously announced sale of WisdomTree Asset Management Canada, Inc., to CI Financial Corp. (“CI”).
WisdomTree CEO Jonathan Steinberg said, “Our Canadian business accomplished a good deal in only a few short years. Canada is an exciting market, particularly as we expect that Canadian fund industry assets will continue to shift from mutual funds to ETFs in the coming years. This transaction allows us to focus more on our core markets in the U.S. and Europe, while still benefiting from continued growth in the Canadian ETF market.”
CI paid CDN $5 million in cash at closing, and total cash consideration payable to WisdomTree will range from CDN $7 million to $13 million based upon certain AUM growth targets for the funds acquired by CI through the transaction over the next three years.
About WisdomTree
WisdomTree Investments, Inc., through its subsidiaries in the U.S. and Europe (collectively, "WisdomTree"), is an exchange-traded fund ("ETF") and exchange-traded product ("ETP") sponsor and asset manager headquartered in New York. WisdomTree offers products covering equities, fixed income, currencies, commodities and alternative strategies. WisdomTree currently has approximately US$64.3 billion in assets under management globally.
WisdomTree® is the marketing name for WisdomTree Investments, Inc. and its subsidiaries worldwide.
Contact Information:
Media Relations
WisdomTree Investments, Inc.
Jessica Zaloom
+1.917.267.3735
jzaloom@wisdomtree.com
Investor Relations
WisdomTree Investments, Inc.
Jason Weyeneth, CFA
+1.917.267.3858
jweyeneth@wisdomtree.com
Released February 20, 2020