CD&R and Warburg Pincus are in advanced talks to jointly acquire Canaccord Wealth, the British wealth management arm of Canaccord Genuity, according to Reuters. The unit provides investment management, financial planning, and advisory services to private clients in Britain and internationally and could be valued at more than £1bn. The deal would also resolve an existing private capital holding. HPS Investment Partners, the private credit firm owned by Black Rock, has held a minority stake in Canaccord Wealth since 2021 and was expected to sell its shares as part of any transaction. Fenchurch, a boutique investment bank, has been advising Canaccord Genuity on the sale.

The talks fit a broader wave of consolidation in UK wealth management and financial advice, as acquirers chase scale and position for rising demand for wealth services. That appetite has spanned both strategic and financial buyers, with Nat West Group earlier this year buying Evelyn Partners for £2.7bn, underlining how actively the sector is changing hands. For now, nothing is settled. The sources stressed that there is no certainty they will lead to a transaction.