CI Global Asset Management has agreed to acquire Forge First Asset Management, an alternative-asset manager with about $1 billion in assets under management.

Forge First manages funds that invest in North American securities, including those tied to commercial real estate, using a long-short approach.

The company will continue to operate under its current name. Terms were not disclosed.

“The Forge First team has proven itself in the alternatives space with an impressive track record of results and a strong focus on risk management as shown by the resiliency of their strategy in market downturns,” said Marc-André Lewis, president and chief investment officer of CI Global.

Forge First is led by co-founders Andrew McCreath and Fatima Hirani, while Keenan Murray serves as chief investment officer for the Toronto-headquartered firm.

“CI GAM is the ideal partner to drive the next stage of growth at Forge First,” said McCreath. “CI GAM’s scale and extensive capabilities in distribution and marketing can boost our exposure to advisors across Canada, as well as to family offices and institutional investors.”

The deal is expected to close in the fourth quarter of 2025, subject to regulatory approvals.