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Emigrant takes stake in California RIA

Emigrant Partners, a subsidiary of New York Private Bank & Trust, made a minority investment in a registered investment adviser, Hollencrest Capital Management. Terms were not disclosed.

Hollencrest is based in Newport Beach, California, and manages approximately $1.7 billion of assets under management.

Emigrant and its affiliate, Fiduciary Network, have made investments in 17 firms with approximately $55 billion in both assets under advisement and assets under management.  

[More: Emigrant takes stake in Pure Financial Partners]

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