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Canaccord Genuity Group Inc. Announces That HPS Will Invest in its UK Wealth Management Business


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Proceeds to be used to fund a return of capital from the UK Wealth Management division to Canaccord Genuity Group Inc.
TORONTO, Feb. 3, 2021 /PRNewswire/ - Canaccord Genuity Group Inc. (TSX:CF), (the Company ) announces that HPS Investment Partners, LLC ( HPS ), on behalf of investment accounts and funds it manages has agreed to invest in the Company s UK wealth management division.  Subject to regulatory approval and other customary closing conditions, HPS will acquire Convertible Preferred Shares (the Convertible Preferred Shares ) in the amount of £125 million (C$219 million
1) to be issued by Canaccord Genuity Wealth Group Holdings (Jersey) Limited ( CGWM UK ), the parent company of the Company s wealth management operating subsidiaries in the UK, the Channel Islands and in the Isle of Man (the Transaction ).  ....

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