Key facts
- Canaccord Genuity's UK wealth management division is being eyed for a sale valued at approximately £1 billion.
- Centerbridge Partners and Mubadala Investment Company are leading the consortium in talks.
- Previous exclusive negotiations with Warburg Pincus and Clayton, Dubilier & Rice expired without a deal.
- HPS Investment Partners, a minority stakeholder, plans to exit its holding as part of the sale.
- Canaccord Genuity appointed Fenchurch Advisory Partners as its sell-side financial adviser.
Canaccord Genuity Group Inc. is in negotiations to sell its United Kingdom wealth management division for approximately £1 billion to a consortium led by Centerbridge Partners and backed by Mubadala Investment Company. The deal comes after exclusive talks with private equity firms Warburg Pincus and Clayton, Dubilier & Rice expired without an agreement. Canaccord's shares saw a notable increase on the Toronto Stock Exchange following the news of the ongoing discussions.
The sale process, which began in 2025, aims to provide an exit for existing investors, including HPS Investment Partners, which holds a minority stake. The fragmented UK wealth management sector continues to attract private equity interest due to consolidation opportunities driven by rising compliance costs and margin pressures for independent operators.
Canaccord Genuity has appointed Fenchurch Advisory Partners to advise on the sale. The consortium of Centerbridge and Mubadala is reportedly well-capitalized, potentially allowing them to outmaneuver competitors in the acquisition process.