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.
Beijing’s move came swiftly in response to the White House’s decision to slap new curbs on exports of vital chip components to China.
Crypto ETFs have pulled in billions since the election, and new products that deal in lesser-known currencies are in the works.
A Morgan Stanley partnership with Carta could result in more clients, and more assets, for its advisory business.