Centerbridge, Mubadala Eye Canaccord UK Unit
Centerbridge Partners and Mubadala Investment Company are reportedly in talks to buy Canaccord Genuity's UK wealth management business for about £1bn.
Updated on Nov. 5, 2026 in Financial Services
Centerbridge Partners and Mubadala Investment Company are in talks to acquire Canaccord Genuity's UK wealth management arm, valued at approximately £1bn. Canaccord's shares rose as much as 6.5% in Toronto following news of the discussions.
Why it matters
The talks follow a period of exclusive discussions with Warburg Pincus and Clayton, Dubilier & Rice that expired, and they signal continued private-capital interest in UK wealth management. A deal could be announced in the coming weeks, though there is no certainty an agreement will be reached.
The approximately £1bn transaction value compares with Canaccord's market capitalisation of roughly C$1.5bn, while the shares rose as much as 6.5% in Toronto. Whether a final agreement is reached and at what price has not been confirmed.
The players
Centerbridge Partners
Centerbridge Partners is a US-based private investment firm that has led investments including one in Ebury and is exploring a potential sale of Auxmoney.
Mubadala Investment Company
Mubadala Investment Company is the Abu Dhabi state-owned sovereign wealth fund that invests globally across private equity, infrastructure and other asset classes.
Canaccord Genuity
Canaccord Genuity is a Canadian investment bank and wealth management firm with operations in Canada, the US and the UK.
The details
Canaccord Wealth UK provides investment management and financial advisory services to mass-affluent and high-net-worth clients. The consortium is negotiating directly after exclusive discussions with Warburg Pincus and CD&R expired.
Timeline
Earlier this year: NatWest agreed to acquire Evelyn Partners for £2.7bn.
April: Centerbridge led an investment in Ebury.
Coming weeks: A possible announcement of the Canaccord Wealth UK deal.
Market Landscape
The talks extend the UK wealth management consolidation seen when NatWest agreed to acquire Evelyn Partners for £2.7bn earlier this year. Private capital firms such as Centerbridge are also active in the broader sector, having led an investment in Ebury in April.
For clients of Canaccord Wealth UK, a change in ownership could alter the investment management and advisory services they receive. The outcome will depend on whether the talks produce a signed agreement.
The takeaway
Ownership changes in wealth management often reshape client services and pricing, so clients of affected firms should watch for official announcements on any final deal.
What happens next
A deal for Canaccord Wealth UK could be announced in the coming weeks, though no agreement is certain.
Further reading
For more on deals like this, see our Financial Services coverage.
Source note: This article includes information reported by Private Equity Wire.
