UK wealth manager Kingswood Holdings Ltd has partnered with its affiliate Moor Park Capital Partners, an independent real estate investment firm, to broaden Kingswood’s alternative investment product offering.
Kingswood hopes this will boost its alternative product offerings, particularly in real estate. Alternative products are generally only available to institutional investors, but the firm aims to provide core real estate investment opportunities to existing and future clients.
Moor Park, which is authorised and regulated by the FCA, focuses on European commercial property and has approximately £1.3 billion of real estate assets under management (AUM), which raises the combined entities AUM to £3.3 billion.
This announcement follows the appointment of Richard Klein as head of alternatives and distribution in February.
Patrick Goulding, Kingswood’s Subsidiaries chief executive and group chief financial officer, is “delighted” to expand its alternatives offering “so soon after Richard’s arrival”.
“In order for Kingswood to deliver our strategy, we are focussed on partnering with best in class managers to provide our global client base access to high quality investment products capable of generating recurring, sustainable, long term investment returns,” he continued.
The firm bought East Yorkshire IFA firm Marchant McKechnie in October 2018 and Thomas & Co Financial Services in Oxford last month. It continues to pursue other investments across the UK with a pipeline in excess of £100 million under evaluation.
Kingswood is also in active discussions to gain a foothold in the US market, having recently appointed Najib Canaan as its US chief executive.
Shemeel Khan, chief executive and founding partner at Moor Park, commented: “Our firm is built on the fundamental values of integrity, inclusiveness, excellence, alignment of interest and transparency, with a focus on building long term partnerships. We see this partnership with Kingswood as an excellent opportunity to diversify our investor base.”
Kingswood now has more than 4,500 active clients, and assets under administration and management of £1.9 billion, across offices in London, Manchester, Cheltenham, Maidstone, Worcester, Beverley, and Oxfordshire.
