Douglass Winthrop Advisors Secures Minority Investment from Kudu Investment Management

NEW YORK, Sept. 15, 2021 /PRNewswire/ — Douglass Winthrop Advisors, LLC (DWA), an SEC-registered investment advisor managing more than $4.8 billion in assets, is partnering with Kudu Investment Management, LLC (Kudu), an independent provider of permanent capital solutions to asset and wealth managers worldwide. Under terms of an agreement reached on Sept. 13, Kudu has acquired a minority stake in DWA. Financial terms were not disclosed.

Founded in 2000, DWA has 32 employees and offices in New York, Boston, Washington, D.C., and West Palm Beach. The firm provides investment advisory and wealth management services for high net worth clients, with a focus on multi-generational families and trusts. DWA also has a growing roster of institutional clients.

“Partnering with Kudu ensures DWA can remain independent, with access to growth capital and a strategy for long-term continuity in leadership,” said Jay Winthrop, DWA co-founder and managing principal. “Kudu and DWA have a shared belief that independent, trusted financial advice is increasingly in demand by sophisticated investors and their families.”

“We are pleased to welcome Kudu as a partner,” said Lea Paine Highet, managing principal of DWA. “The permanent capital the firm is providing will reinforce our commitment to serve as our clients’ trusted advisor for years to come.”

“We are delighted to make this investment in Douglass Winthrop,” said Rob Jakacki, CEO of Kudu. “DWA’s client-centric, premium service culture is the key to its success. Providing DWA the financial freedom to maintain this approach is our focus, and we look forward to supporting its entire team as the firm continues to grow.”

Founded in 2015, Kudu now has 17 partner firms, including two managed for a third party, that collectively invest approximately $96 billion on behalf of individual and institutional investors worldwide in traditional and alternative strategies, as of June 30, 2021. Kudu has more than $650 million in capital commitments to date.

Berkshire Global Advisors, LP served as financial advisor and Dechert LLP was the legal counsel to DWA. Seward & Kissel LLP served as legal advisor to Kudu.

About Douglass Winthrop Advisors, LLC
Douglass Winthrop Advisors is a New York City-based SEC-registered investment advisor. The firm manages more than $4.8 billion for individuals, families, trusts, endowments and institutions. It is majority owned by its principals. For more information, visit https://www.douglasswinthrop.com/.

About Kudu Investment Management
Kudu provides long-term capital solutions—including generational ownership transfers, management buyouts, acquisition and growth finance, as well as liquidity for legacy partners—to asset and wealth managers globally. Kudu was founded in 2015 and is backed by capital partner White Mountains Insurance Group, Ltd. (NYSE: WTM). For more information, visit https://www.kuduinvestment.com/.

SOURCE Kudu Investment Management, LLC

Leading Canadian Private Credit Firm Third Eye Capital Receives Significant Backing From Kudu Investment Management

TORONTO and NEW YORK, Sept. 9, 2021 – Third Eye Capital (Third Eye), a leading Canadian private credit firm, is partnering with Kudu Investment Management, LLC (Kudu), an independent provider of permanent capital solutions to asset and wealth managers worldwide. Kudu is acquiring a minority stake in Third Eye and its affiliates. Terms were not disclosed.

Through a unique combination of flexible capital and strategic and operational insights, Third Eye empowers growing companies that are underserved and underappreciated by other capital sources. Founded in 2005 by Arif Bhalwani and David Alexander, Third Eye currently manages approximately C$2.8 billion for a diversified client base of primarily Canadian institutional and high net worth investors.

“Kudu’s investment allows us to enhance our already significant alignment with clients and help us launch new funds in the evolving Canadian private credit markets,” said Bhalwani, Third Eye’s CEO. “With our strong track record of helping portfolio companies successfully manage complex change events ranging from extreme distress to hyper growth, Third Eye has become a preferred alternative capital provider for Canadian management teams.”

“We chose to partner with Kudu for several reasons, including its permanent capital structure, shared vision, and a cultural alignment that was clear from the moment we met,” added Bhalwani. “Kudu’s preference for minority positions fully aligns with Third Eye’s growth ambitions, without altering our processes, timelines or continued independence and majority employee ownership.”

“There is so much to admire in Third Eye,” said Rob Jakacki, CEO of Kudu. “Our mission has always been to back extraordinary management teams and provide them the capital and support for their growth. Third Eye has a best-in-class team and a distinctive business model that gives it a unique edge in the expanding alternative credit markets in Canada. We are honored to partner with them.”

With the addition of Third Eye as its first investment in Canada, Kudu now has investments in 16 partner firms (including two managed for a third party) domiciled in the U.S., Canada, the U.K. and Australia. Kudu-affiliated asset and wealth managers collectively invest US$91 billion (C$115 billion) on behalf of individual and institutional investors worldwide in traditional and alternative strategies, as of June 30, 2021. Founded in 2015, Kudu has more than US$650 million (C$823 million) in capital commitments to date.

RBC Capital Markets served as financial advisor and Bennett Jones, LLP was legal counsel to Third Eye. Osler, Hoskin & Harcourt, LLP and Seward & Kissel LLP served as legal advisors to Kudu.

About Third Eye Capital

Based in Toronto, Third Eye Capital is a leading Canadian private credit firm providing tailored financing and value-added operational expertise to its portfolio companies. Since 2005, Third Eye Capital has directly invested more than C$3.5 billion in over 100 financings for non-sponsored companies operating across a diverse set of industries, including the sustainability sector, natural resources, technology, financials, healthcare, media, food and hospitality, transports and construction services. For more information, please visit www.thirdeyecapital.com.

About Kudu Investment Management

Kudu provides long-term capital solutions—including generational ownership transfers, management buyouts, acquisition and growth finance, as well as liquidity for legacy partners—to asset and wealth managers globally. Kudu was founded in 2015 and is backed by capital partner White Mountains Insurance Group, Ltd. (NYSE: WTM). For more information, please visit Kudu’s website.

Media Contacts

For Kudu:

Sarah Lazarus    

CL-Media Relations, LLC

M: +1 617-335-7823

sarah@cl-media.com

Richard Chimberg

CL-Media Relations, LLC

M: +1 617-312-4281

rich@cl-media.com