HPS Investment to invest $173m in wealth management business of Canaccord Genuity.

HPS Investment, an investment firm that offers portfolio management and advisory services, agreed to invest $173m in wealth management business of Canaccord Genuity, an independent, full-service financial services firm. "We are delighted to have found in HPS a long-term partner to further our strategic growth ambitions and consolidate CGWM UK's position as one of the leading wealth management firms in the UK and Crown Dependencies. Recognising the strength and potential of our business, this significant investment enhances our ability to invest in our client offering and our people and accelerate the future growth of CGWM UK to benefit our clients' evolving needs," David Esfandi, CGWM UK CEO.