Overview
- MPA acted as exclusive financial advisor to Forge First Asset Management Inc. (“Forge First”) on its sale to CI Global Asset Management (“CIGAM”), a subsidiary of CI Financial Corp.
- Forge First was a Toronto-based alternative asset manager with approximately $1 billion in assets under management
MPA‘s Role to Forge First and Key Considerations
- Given Forge First’s focus on liquid alternative strategies, the highly liquid nature of its funds made confidentiality paramount throughout the process, as premature disclosure could have negatively impacted investor confidence and the company’s value
- MPA’s expertise in navigating sensitive transactions ensured that the Forge First team remained closely engaged while maintaining strict information controls and discretion at every stage
- The presence of performance fees further complicated the structuring of the transaction, requiring alignment of interests between unitholders and employees.
- The advisory team worked with Forge First to prepare precise, targeted marketing materials that balanced disclosure with confidentiality, and approached a carefully curated set of counterparties to minimize market disruption
- MPA coordinated multiple discussions with interested parties, negotiating to strengthen initial offers and ultimately guiding Forge First toward a transaction structure that best preserved value and aligned with unitholder interests
Outcome
- In September of 2025, CIGAM announced its acquisition of Forge First and is expected to close in the fourth quarter of 2025
- MPA’s disciplined and confidential advisory approach safeguarded Forge First’s fund value while securing a transaction that maximized outcomes for its unitholders
- Forge First will continue to operate as a separate business under its current name and continue to provide its alternative investment solutions to Canadian investors