Clayton Dubilier & Rice and Warburg Pincus Bid for Canaccord Wealth

Clayton, Dubilier & Rice and Warburg Pincus have entered advanced discussions to jointly acquire Canaccord Wealth, the British wealth management division of Canaccord Genuity. The two private equity firms emerged as the leading bidders in an auction process that began last year.

While official valuations remain unconfirmed, previous estimates value the business at over 1 billion pounds. The transaction would include the sale of shares held by HPS, a private credit firm owned by BlackRock that has maintained a minority stake in the company since 2021. Fenchurch, a boutique investment bank, is advising Canaccord Genuity on the deal.

The potential acquisition follows a period of significant consolidation within the United Kingdom wealth management sector. This trend was recently highlighted by the NatWest Group's 2.7 billion pound purchase of Evelyn Partners.