TORONTO and LONDON, Nov. 15, 2026 /CNW/ -- Canaccord Genuity Group Inc. (TSX: CF) ("Canaccord Genuity" or the "Company") today announced that it, together with holders of its Convertible Preferred Shares and Preference Shares and certain management and employee shareholders of Canaccord Genuity Wealth Group Holdings (Jersey) Limited, the parent of all operating companies included in CGWM UK, has entered into a definitive agreement to sell its Wealth Management business in the UK & Crown Dependencies ("CGWM UK") to affiliates of growth-focused private equity investors Centerbridge Partners, L.P. ("Centerbridge") and Mubadala Investment Company PJSC ("Mubadala").

Under the terms of the agreement, a newly formed entity jointly owned by Centerbridge and Mubadala will acquire the entire issued share capital of Canaccord Genuity Wealth Group Holdings (Jersey) Limited in an all-cash transaction. The transaction values CGWM UK at an enterprise value of approximately £1.17 billion reflecting a decade of substantial growth in client assets under management, revenue and profitability.

On an as-converted basis, and subject to the liquidation preferences associated with the holders of the Convertible Preferred Shares and Preference Shares of CGWM UK, the Company holds an approximate 66.9% equity equivalent interest in CGWM UK. The Company expects to receive proceeds of approximately £564 million from the transaction after adjustments relating to debt and working capital, transaction costs and timing for closing.

Upon completion of the transaction, CGWM UK will be jointly owned by Centerbridge and Mubadala, with CGWM UK management and employees retaining a meaningful ownership interest. The business will continue to operate in the UK and Crown Dependencies under the Canaccord Wealth brand pursuant to a two-year brand licence agreement.

David Esfandi, CEO of Canaccord Wealth, said: "The transaction marks an exciting next chapter for Canaccord Wealth, strengthening our ability to deliver outstanding outcomes for clients. With support from Canaccord Genuity and others, our business has flourished, with assets under management and revenues almost tripling over the past decade. This growth has supported continued investment in our people, technology and client proposition. Moving forward with support from Centerbridge and Mubadala, and under focused, patient ownership we will be even better placed to enhance the advice, service and investment solutions we provide, while continuing to deliver exceptional performance for our clients."

"We are proud of what the business and its people have accomplished under David's leadership, and we believe Centerbridge and Mubadala are well positioned to support its next phase of growth," said Dan Daviau, Chairman & CEO of Canaccord Genuity. "This transaction marks an important step in advancing our strategic priorities while supporting value creation for our shareholders. For CGWM UK, it provides continuity and a strong foundation for continued success for the benefit of clients and employees."

Ben Langworthy, Senior Managing Director and Head of Europe at Centerbridge, said: "The UK wealth management sector continues to benefit from powerful structural tailwinds, as demand for high-quality, personalised financial advice grows alongside increasing complexity in clients' financial needs. Canaccord Genuity has built a strong platform in an attractive market, and we're delighted, along with Mubadala, to be partnering with Canaccord Wealth. We look forward to leveraging our track record on helping businesses grow through investment in talent, technology and supporting disciplined M&A, to help Canaccord Wealth on its next phase of growth."

Yasir Badri, Executive Director of Financial Services at Mubadala, said: "Under Canaccord Genuity Group's stewardship, Canaccord Wealth has built a leading position in UK wealth management, combining strong growth with a reputation for exceptional client service. We see significant opportunity in a market where growing wealth and increasing financial complexity are driving demand for expert advice. Together with Centerbridge, we look forward to accelerating Canaccord Wealth's momentum, strengthening its position as a trusted partner for clients and a preferred home for top-tier advisers."

Canaccord Genuity's UK capital markets business (Canaccord Genuity Limited) is not impacted by this transaction and remains integral to the Company's global capital markets platform.

The transaction has been approved by Canaccord Genuity's Board of Directors and is expected to close in the first half of calendar 2027, subject to customary closing conditions and the receipt of required regulatory approvals, including but not limited to the UK Financial Conduct Authority and the relevant financial services authorities in Jersey, Guernsey and the Isle of Man.

ADVISORS

Macfarlanes is acting as legal counsel to CGWM UK. Fenchurch Advisory Partners is acting as financial advisor to Canaccord Genuity, with Morgan Lewis acting as legal counsel.

Spencer House Partners and Ardea Partners are acting as financial advisors to the acquiring consortium. Ashurst Perkins Coie is acting as legal counsel to the consortium in relation to the transaction, while Linklaters is acting as legal counsel to the consortium in relation to acquisition financing. Blake, Cassels & Graydon LLP is acting as legal counsel to the consortium in relation to Canadian law.

ABOUT CANACCORD GENUITY GROUP INC.

Through its principal subsidiaries, Canaccord Genuity Group Inc. is a leading independent, full-service financial services firm, with operations in two principal segments of the securities industry: wealth management and capital markets. Since its establishment in 1950, the Company has been driven by an unwavering commitment to building lasting client relationships. We achieve this by generating value for our individual, institutional and corporate clients through comprehensive investment solutions, brokerage services and investment banking services. The Company has wealth management offices located in Canada, the UK, Guernsey, Jersey, the Isle of Man and Australia. The Company's international capital markets division operates in North America, UK & Europe, Asia, and Australia.

Canaccord Genuity Group Inc. is publicly traded under the symbol CF on the TSX.

ABOUT CENTERBRIDGE PARTNERS, L.P.

Centerbridge Partners, L.P. is a private investment management firm employing a flexible approach across investment disciplines — Private Equity, Private Credit and Real Estate — in an effort to develop the most attractive opportunities for our investors. The Firm was founded in 2005 and, as of September 30, 2026, has approximately $52 billion in assets under management with offices in New York and London. Centerbridge is dedicated to partnering with world-class management teams across targeted industry sectors and geographies. For more information, please visit www.centerbridge.com | LinkedIn

ABOUT MUBADALA INVESTMENT COMPANY PJSC

Mubadala Investment Company is a sovereign investor managing a global portfolio, aimed at generating sustainable financial returns for the Government of Abu Dhabi. Mubadala's US$385 billion (AED 1.4 trillion) portfolio spans six continents with interests in multiple sectors and asset classes. It leverages deep sectoral expertise and long-standing partnerships to drive sustainable growth and profit, while supporting the continued diversification and global integration of the economy of the United Arab Emirates. For more information, please visit: www.mubadala.com.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This press release contains "forward-looking information" as defined under applicable securities laws ("forward-looking statements"), including statements with respect to: the proposed sale of CGWM UK, including the anticipated timing of, and the ability of the parties to complete, the transaction; the receipt of required regulatory approvals, including from the UK Financial Conduct Authority and the relevant financial services authorities in Jersey, Guernsey and the Isle of Man, and the satisfaction of other closing conditions; the expected enterprise value of CGWM UK and the expected proceeds to be received by the Company from the transaction; the ownership of CGWM UK following closing, including the ownership interest to be retained by CGWM UK management and employees; the continued use of the Canaccord Wealth brand pursuant to the brand licence agreement; the anticipated benefits of the transaction for the Company, its shareholders, CGWM UK and its clients and employees; and the continued operation of the Company's UK capital markets business. These statements relate to future events or future performance and reflect management's expectations, beliefs, plans, estimates, intentions and similar statements concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts. Such forward-looking statements reflect management's current beliefs and are based on information currently available to management. In some cases, forward-looking statements can be identified by terminology such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "estimate", "predict", "potential", "continue", "target", "intend", "could" or the negative of these terms or other comparable terminology. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and a number of factors could cause actual events or results to differ materially from the results discussed in the forward-looking statements.

In evaluating these statements, readers should specifically consider various factors that may cause actual results to differ materially from any forward-looking statement. These factors include, but are not limited to: the failure to obtain required regulatory approvals, or to satisfy other closing conditions, on a timely basis or at all; the risk that the transaction will not be completed on the terms or timing currently contemplated, or at all; the termination of the definitive agreement; the negative impact that the failure to complete the transaction, for any reason, could have on the price of the Company's securities or on the business of the Company or CGWM UK; the effect of the announcement on the business of the Company and CGWM UK, including relationships with clients, advisers and employees; litigation relating to the transaction; market and general economic conditions; the dynamic nature of the financial services industry; key person risks; and the risks and uncertainties discussed from time to time in the Company's interim condensed and annual consolidated financial statements, its annual report and its annual information form ("AIF") filed on www.sedarplus.ca as well as the factors discussed in the sections entitled "Risk Management" and "Risk Factors" in the AIF, which include market, liquidity, credit, operational, legal and regulatory risks.

Although the forward-looking statements contained in this press release are based upon assumptions that the Company believes are reasonable, there can be no assurance that actual results will be consistent with these forward-looking statements, and readers should not place undue reliance on forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors not presently known to the Company or that the Company presently believes are not material. The forward-looking statements contained in this press release are made as of the date of this press release and should not be relied upon as representing the Company's views as of any date subsequent to the date of this press release. Except as may be required by applicable law, the Company does not undertake, and specifically disclaims, any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. All of the forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

SOURCE Canaccord Genuity Group Inc.