On October 9, 2024, CC Capital invested $250 million USD ($342.5 million CAD) in The Westaim Corporation (TSXV: WED), acquiring a 41% stake to create an integrated insurance and asset management platform. The deal included restructuring Arena Investors and launching Ceres Life Insurance, led by Deanna Mulligan.

Legal advisors were Skadden, Arps, Slate, Meagher & Flom LLP and Blake, Cassels & Graydon LLP for CC Capital; Dentons Canada LLP for Westaim; Willkie Farr & Gallagher LLP and Stikeman Elliott LLP for the Special Committee; and Ropes & Gray LLP and Dechert LLP for Arena. Financial advisors included Lazard, BMO Capital Markets, and PJT Partners. The transaction was subject to shareholder and regulatory approvals by Q1 2025.