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The Canadian Press
Canaccord Genuity Group Inc. has acquired Carbon Reduction Capital (CRC-IB) in a bid to grow its U.S. capital markets business in the renewable energy sector.
Financial terms of the agreement were not immediately available.
CRC-IB offers investment banking services in the U.S. with experience in the wind, solar, storage, carbon capture and energy transition sectors.
It has executed more than 400 transactions with an aggregate value of about US$91 billion.
Canaccord Genuity chief executive Jeff Barlow says the deal unlocks new opportunities to increase its market share in the U.S. and globally.
Canaccord Genuity is an independent financial services firm, with operations in wealth management and capital markets.