CD&R and Warburg Pincus in Advanced Talks to Acquire Canaccord Wealth
Private equity firms CD&R and Warburg Pincus are negotiating a joint acquisition of Canaccord Wealth, the British wealth management arm of Canaccord Genuity. The deal could value the firm at over £1 billion.
Private equity firms CD&R and Warburg Pincus have entered advanced discussions to jointly acquire Canaccord Wealth, the British wealth management division of Canaccord Genuity. The potential transaction values Canaccord Wealth at more than £1 billion (US$1.34 billion).
The two firms emerged as leading bidders following an auction process launched last year. Fenchurch has been advising Canaccord Genuity on the sale.
As part of the proposed deal, BlackRock-owned private credit firm HPS is expected to exit its position. HPS has held a minority stake in Canaccord Wealth since 2021.
Canaccord Wealth provides investment management, financial planning, and wealth advisory services to private clients in Britain and internationally. Spokespeople for CD&R and Warburg Pincus declined to comment, while Canaccord Genuity and Canaccord Wealth did not immediately respond to requests for comment.