Pettinelli Financial Partners is the latest of several firms leaving Osaic this month.
The capital will be used to pursue organic and acquisition-based growth globally.
Investors tend to appreciate private credit for delivering current income and lower volatility. In a world of higher interest rates, it also gives them the opportunity to achieve higher yields.
Kingswood now has until March 15 to complete its merger with broker/dealer aggregator Wentworth.