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JCRA has acquired CanaccordGenuity’s (Canaccord) social housing and bond advisory business. By combining Canaccord’s social housing business with JCRA’s existing activities, it creates one of the largest firms of independent financial advisors to the social housing sector in Europe.
This brings JCRA’s client-facing European team to more than 50 experienced advisors and adds an enhanced range of experience and capability, particularly in the private placement and retail bond markets. JCRA and the Canaccord team have worked together on a number of joint mandates in recent years, most recently on the Alpha Schools retail bond. The ability to maximise the skills and experience for the benefit of JCRA’s clients is, therefore, already well established.
The Canaccord team has a proven track record of providing advice on raising debt and managing financial risk on behalf of its clients in the Social Housing sector and will continue to be led by Adrian Bell and Henrietta Podd. The team has advised over 50 housing associations across the UK and has been involved in raising over £7bn of debt for housing associations, and £2bn for other clients in the past 20 years.
Jackie Bowie, Chief Executive Officer of JCRA, said: “We are committed to providing the premier advisory service to our social housing clients and this acquisition will allow us to create a powerful team with a broad and proven expertise in the sector. We have previously worked with Adrian and the Canaccord team and there is a natural synergy between the two teams. The knowledge and experience of the combined businesses is exceptional and allows us to offer our clients a proposition that meets their specific needs.”
Adrian Bell commented: “We are delighted to be joining JCRA. We have worked with them over a number of years and share a strong common culture. Their skill base complements our own and their geographic coverage enables us to extend our activity further into the North of England and Scotland. Together we are confident that we can expand the coverage of our combined businesses into both debt advisory and origination.”
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