Deal Announcement

PriestleySoundy is advising CEO David Esfandi and the Senior Management Team of Cannacord Genuity Wealth Management (“CGWM”) on their incentive arrangements in connection with an investment into the business by HPS Investment Partners.

HPS will acquire £125 million worth of Convertible Preferred Shares issued by the parent company of the CGWM business.  The transaction was announced on 3 February 2021 and is subject to regulatory approval and other customary closing conditions.

CGWM provides comprehensive wealth management solutions and brokerage services to individual investors, private clients, charities and intermediaries.

HPS is a leading global investment firm that seeks to provide creative capital solutions and generate attractive risk-adjusted returns for its clients, with over US $68 billion of assets under management.

Canaccord Genuity Group is being advised by Travers Smith, and HPS is being advised by Kirkland & Ellis.

03 February 2021

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