CD&R and Warburg Pincus in Advanced Talks for Canaccord's UK Wealth Arm, Sources Say

Private equity firms Clayton, Dubilier & Rice (CD&R) and Warburg Pincus are in advanced discussions for a joint takeover of Canaccord Genuity's British wealth management arm, according to two people familiar with the matter. The potential deal for Canaccord Wealth could value the business at more than £1 billion ($1.34 billion).

The Potential Takeover

The two firms have reportedly emerged as the leading bidders following an auction process for Canaccord Wealth that was launched last year. A previous report from October 2025 first suggested the potential valuation could exceed £1 billion.

According to the original Reuters report, spokespeople for both CD&R and Warburg Pincus declined to comment. Canaccord Genuity and its wealth division did not immediately respond to requests for comment.

UK Wealth Management Consolidation

This potential acquisition is part of a broader consolidation trend in the United Kingdom's wealth management and financial advice market. Companies in the sector are pursuing deals to gain scale and better capitalize on the growing demand for wealth services from an aging population and changes in pension rules.

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A recent major transaction in the industry was NatWest Group's purchase of Evelyn Partners for £2.7 billion ($3.6 billion) earlier this year, highlighting the significant capital being deployed in the sector.

Parties Involved

Canaccord Wealth provides investment management, financial planning, and advisory services to private clients in the UK and internationally. The parent company, Canaccord Genuity, is being advised on the sale by the boutique investment bank Fenchurch, sources previously told Reuters.

As part of a sale, HPS, a private credit firm owned by BlackRock, is expected to sell the minority stake it has held in Canaccord Wealth since 2021.