The Corporate and Commercial team from Cains has recently advised longstanding client Canaccord Genuity on the recent investment by HPS Investment Partners LLC (“HPS”), on behalf of investment accounts and funds it manages, into 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.
Subject to regulatory approval and other customary conditions, HPS will acquire Convertible Preferred Shares in Canaccord Genuity Wealth Group Holdings (Jersey) Limited for an investment amount of £125 million.
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.
Cains Director and joint head of the Corporate and Commercial practice, Scott Leonard-Morgan, with support from Associate Matthew Wilkinson, acted as lead Isle of Man counsel to Canaccord Genuity, advising on all Isle of Man legal and regulatory matters.