Mubadala Capital, which manages $27 billion in assets, will take a 42% stake in Silver Rock Financial, which manages $10 billion in assets.
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The deal expands Mubadala Capital’s reach in the US while giving CI Financial additional backing after years of snapping up RIAs.
It’s the latest in several moves — announced in swift succession — that suggest a radical overhaul in Zuckerberg’s thinking about Meta.
Executives at top financial services firms expect to cut as many 200,000 jobs in the next five years and significantly increase revenues.
The investment company says advisors and investors should break from the traditional strategy and take on more defensive positions this year.