PE suitors circle Canaccord UK wealth arm in £1bn-plus deal

Private equity firms Warburg Pincus and Clayton Dubilier & Rice are in advanced talks to buy Canaccord Genuity’s UK wealth management arm for around £1bn, with HPS Investment Partners holding a minority stake. The deal underscores ongoing consolidation in wealth management as groups seek recurring revenue and scale amid regulatory costs and DIY investing competition. Canaccord’s UK wealth unit serves clients with more than £250,000 in assets and accounts for a large share of the group’s wealth revenues, though the sale remains uncertain as other bidders could emerge.