Wealth management consolidator Kingswood has expanded its US operations with a multi-million dollar deal to take majority ownership of Manhattan Harbor Capital.
Kingswood will own 50.1% of the US wealth manager which will be renamed Kingswood US. It was the deal was a "giant step" in its US expansion strategy and said up to $8m (£6.1m) if additional capital...
Creation of chief commercial officer role
£800,000 annual fee income
Private equity-backed business
Northants and Cambs client base
First acquisition of 2021
Almost three-quarters generated positive returns
Integration of Charles Derby and Lighthouse
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Entered administration in April 2020
Cuts fees across multi-manager range