Travers Smith LLP has advised longstanding client Canaccord Genuity Group, Inc. (Canaccord Genuity) on the investment by HPS Investment Partners, LLC (HPS), on behalf of investment accounts and funds managed by it, into Canaccord Genuity's UK wealth management division.
Subject to regulatory approval and other customary conditions, HPS will acquire Convertible Preferred Shares in the amount of £125 million to be issued by Canaccord Genuity Wealth Group Holdings (Jersey) Limited, the parent company of Canaccord Genuity's wealth management operating subsidiaries in the UK, the Channel Islands and in the Isle of Man.
HPS is a leading global investment firm that seeks to provide creative capital solutions and generate attractive risk-adjusted returns for its clients. HPS has over US$68 billion of assets under management invested in both large and small companies across a variety of industries and sectors.
The Travers Smith team was led by Partner and Head of Corporate M&A and ECM, Philip Cheveley, with support from Corporate M&A and ECM Senior Associate Mark Anderson and Associate Hayley Knaggs.