Wealth manager Kingswood has added two new board directors following an £80m private equity-led investment expected to spur ambitious expansion plans.

Lindsey McMurray and Howard Garland, from the private equity firm Pollen Street Capital, are the new additions.

In September up to £80 million was committed to fund Kingswood expansion with an issue of Convertible Preference Shares to a number of investors and funds managed or advised by Pollen Street.

Kingswood called the cash injection “a hugely significant milestone for the firm.”

Kingswood plans to use the new money to fund expansion and acquisitions and wants to become a “global, scalable wealth management” business.

Lindsey McMurray founded Pollen Street in 2013 and is the managing partner as well as chairman of the investment committee. She has been a private equity investor for more than 20 years with a focus on financial services.

Howard Garland is a partner of Pollen Street and focuses on investing in financial services businesses.

Buzz West, Kingswood chairman, said: “We are delighted to welcome both Lindsey and Howard to the board. Pollen Street is an excellent partner as we execute our shared global vision for the group.”

Howard Garland, partner at Pollen Street, said: "We are very pleased to be joining the board of Kingswood. The business is well positioned to take advantage of the opportunity in the wider wealth management sector and has a clear strategy for growth.”