Kingswood acquires stake in Manhattan Harbor

UK wealth management firm Kingswood has taken a minority stake in US business Manhattan Harbor to further expand its presence across the country. Kingswood has acquired a 7% stake in the business for £408,000 but with the ability in the coming months to achieve a 20% holding, an increase subject to regulatory approval in the US. In addition, certain related parties of Kingswood have an existing 20% interest in Manhattan Harbor with the option to acquire a further 5%. Manhattan Harbor, led by Michael Nessim, is a holding company with operations in New York and Atlanta that includes inv...