Preheat oven to 400 degrees F (200 degrees C). Line a baking sheet with parchment paper.
Mix flour, white sugar, baking powder, salt, and cinnamon together in a bowl. Cut in butter until it forms pea-sized pieces.
Whisk heavy cream and 2 eggs together in a small bowl. Add to the flour-butter mixture. Mix in peaches and pecans until just combined.
Turn dough out onto a floured surface. Pat into a round disc about 1/2-inch thick. Cut into 8 wedges. Transfer wedges to the baking sheet.
Whisk 1 egg and water together in a small bowl. Brush over wedges. Sprinkle raw sugar on top.
Bake in the preheated oven until golden brown, 20 to 25 minutes.