CD&R and Warburg Pincus in Advanced Talks to Acquire Canaccord Wealth
Private equity firms Clayton, Dubilier & Rice (CD&R) and Warburg Pincus are reportedly in advanced discussions for a joint acquisition of Canaccord Wealth, the UK wealth management arm of Canadian investment bank Canaccord Genuity. The potential deal could value the business at over £1 billion ($1.34 billion), according to sources cited by Reuters. HPS, BlackRock’s private credit unit and current minority shareholder in Canaccord Wealth since 2021, is expected to sell its stake as part of any transaction. The UK wealth management sector has seen significant consolidation recently due to growing demand for financial services and firms seeking scale through mergers or acquisitions. Recent deals include NatWest’s £2.7 billion acquisition of Evelyn Partners and Nuveen's £9.9 billion takeover of Schroders.
