Growth Capital Provider Escalate Capital Partners Secures Investment From Kudu Investment Management

  

NEW YORK and AUSTIN, Texas, Sept. 6, 2022 /PRNewswire/ — Escalate Capital Partners (Escalate), a leading private credit and equity investor in growing later-stage companies in the software, services, and healthcare sectors, and Kudu Investment Management, LLC (Kudu), a provider of permanent capital solutions to independent asset and wealth managers worldwide, today announced that Kudu has made a minority investment in Escalate. Financial terms were not disclosed.

Austin-based Escalate was founded in 2005 by Tony Schell and Ross Cockrell, managing directors. Chris Julich, the firm’s third investment partner, joined in 2008. Escalate has invested more than $1 billion in the U.S. software, services, and healthcare sectors and has raised more than $850 million from institutional and individual investors. Escalate has invested in over 100 companies, including Homeaway/VRBO, Phreesia, SailPoint, and Virtustream.

“Partnering with Kudu is an important step in the evolution of the firm,” Schell said. “Kudu’s investment positions Escalate for continued long-term success. Our strategy is to support management teams with funding that helps accelerate growth and is less dilutive than equity.  We continue to see exciting opportunities in the market.”

“Kudu’s deep understanding of the asset management industry, broad network, and capital relationships will be beneficial to further strengthening Escalate’s platform,” Cockrell added. 

“By investing in Escalate, Kudu is partnering with a top team in a dynamic and growing asset management market,” said Rob Jakacki, Kudu CEO. “Escalate has experience across numerous market cycles, has built a respected capital franchise in the technology community, and approaches the segment with a disciplined and consistent underwriting strategy.”

Since 2018, New York-based Kudu has invested in 20 asset and wealth managers headquartered in the U.S., Canada, U.K., and Australia. Kudu-affiliated asset and wealth managers now collectively invest more than $67 billion on behalf of individual and institutional investors worldwide in traditional and alternative strategies and market segments. Kudu’s capital partners are White Mountains Insurance Group, Ltd. and Massachusetts Mutual Life Insurance Company (MassMutual). 

Raymond James served as financial advisor, and Polsinelli was legal counsel to Escalate. Seward & Kissel LLP served as legal advisor to Kudu.

About Escalate Capital Partners

Escalate Capital Partners is a leading private credit and growth equity investment firm that targets rapidly growing later-stage companies within the software, services, and healthcare sectors. With more than $1 billion of invested capital, Escalate provides a stable capital source that is tailored to each company’s unique needs. For more information, visit www.escalatecapital.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 independent asset and wealth managers globally. Kudu was founded in 2015 and is backed by capital partners White Mountains Insurance Group, Ltd. ( NYSE: WTM) and MassMutual. For more information, visit www.kuduinvestment.com.

Media Contacts
Margaret Kirch Cohen/Richard Chimberg
Newton Park PR
+1 847-507-2229
+1 617-312-4281
margaret@newtonparkpr.com
rich@newtonparkpr.com

SOURCE Kudu Investment Management, LLC

GenTrust Adds Kudu Investment Management as Strategic Investor

  

NEW YORK and MIAMI, July 28, 2022 – GenTrust, LLC (GenTrust), an employee-owned SEC-registered investment adviser, and Kudu Investment Management, LLC (Kudu), a provider of permanent capital solutions to independent asset and wealth managers, today announced that Kudu has acquired a minority passive interest in GenTrust. Terms were not disclosed.

Founded in 2011, GenTrust and its affiliates manage approximately $3 billion, providing customized investment and wealth advisory solutions to a global client base of ultra-high-net-worth families, institutions, and other registered investment advisers. The firm has 33 employees and offices in Miami, New York, and San Juan.

“Kudu is our ideal partner. They immediately understood our dedication to providing best-in-class investment management to our clients. We’re thrilled to have their support,” said Jim Besaw, GenTrust founding principal and chief investment officer. “GenTrust started out providing investment advice to hedge fund principals and expanded to serve other sophisticated investors. Kudu recognizes that the institutional-quality investment expertise we deliver to these clients has broad appeal and differentiates us in this hypercompetitive industry.”

“We’re excited to bring Kudu on board,” said George Perez, GenTrust founding principal. “This partnership supports our commitment to being our clients’ most trusted adviser while providing us with the strategic and financial resources to accelerate both organic and inorganic growth.”

“GenTrust has a distinct and innovative approach to investment management,” said Charlie Ruffel, Kudu managing partner. “We saw the opportunity to invest alongside the GenTrust team and support its continued growth as utterly compelling.”

Since 2018, New York-based Kudu has acquired minority stakes in 19 asset and wealth managers headquartered in the U.S., Canada, U.K., and Australia. Kudu-affiliated asset and wealth managers now collectively invest more than $70 billion on behalf of individual and institutional investors worldwide in traditional and alternative strategies and market segments. To date, Kudu has raised more than $800 million in equity and debt capital from White Mountains Insurance Group, Ltd. and Massachusetts Mutual Life Insurance Company (MassMutual). 

Seward & Kissel LLP served as legal adviser to GenTrust and Kudu.

About GenTrust

GenTrust, LLC is an SEC-registered investment adviserthat provides a full range of wealth and asset management services. GenTrust is independent, employee-owned, and committed to upholding the fiduciary standard by putting clients’ best interests first. GenTrust along with its affiliates manages approximately $3 billion in assets for ultra-high-net-worth individuals, families, family offices and institutions, including sub advised relationships for other registered investment advisers. For more information, visit https://gentrustwm.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 independent asset and wealth managers globally. Kudu was founded in 2015 and is backed by capital partners White Mountains Insurance Group, Ltd. (NYSE: WTM) and MassMutual. For more information, visit www.kuduinvestment.com.

Media Contacts

For Kudu:

Margaret Kirch Cohen/Richard Chimberg

Newton Park PR

+1 847-507-2229

+1 617-312-4281

margaret@newtonparkpr.com

rich@newtonparkpr.com

For GenTrust:

Robert Zito/Deborah Kostroun

Zito Partners

+1 917-692-0747

+1 201-403-8185

bob@zitopartners.com

deborah@zitopartners.com

###

Emerging Markets Specialist Gramercy Funds Management Adds Kudu Investment Management as Strategic Investor

GREENWICH, Conn. and NEW YORK, June 9, 2022 /PRNewswire/ — Gramercy Funds Management, LLC (Gramercy), a dedicated emerging markets investment firm, and Kudu Investment Management, LLC (Kudu), an independent provider of permanent capital solutions to asset and wealth managers, today announced that Kudu has acquired a minority interest in Gramercy. The majority of the proceeds will be reinvested into Gramercy’s investment strategies, further aligning the firm with its limited partners. The terms of the transaction were not disclosed.

Gramercy manages approximately $5.4 billion for a global client base in emerging market strategies including multi-asset, private credit, public credit, and special situations. Founded in 1998 and based in Greenwich, Conn., Gramercy is led by Robert Koenigsberger, Founder, Managing Partner and Chief Investment Officer and Scott Seaman, Senior Partner and Chief Operating Officer. Its management committee has been chaired by Mohamed El-Erian since 2020. The firm has offices in London, Buenos Aires and Mexico City, and dedicated lending platforms in Brazil, Colombia, Mexico, Peru, Turkey, and pan-Africa.

“Kudu has an established track record as a supportive and steadfast permanent capital partner,” Koenigsberger said. “This transaction will allow us to infuse additional capital into our investment strategies as well as bolster our balance sheet at an opportune time for the firm and our investors. In doing so, we strengthen our bond with limited partners as more of our capital will be working alongside theirs as we pursue a broader range of attractive investment opportunities.”  

“Gramercy’s investment strategies are uniquely positioned in the current era of heightened volatility and geopolitical tension, both contributing to continued growth and expanding opportunities,” El-Erian said. “Kudu’s important and timely partnership will enhance what already is a leading emerging markets investment platform.”

Since 2018, New York-based Kudu has acquired minority stakes in 18 asset and wealth managers headquartered in the U.S., Canada, U.K., and Australia. Kudu-affiliated asset and wealth managers now collectively invest more than $70 billion on behalf of individual and institutional investors worldwide in traditional and alternative strategies and market segments. To date, Kudu has raised more than $800 million in equity and debt capital from White Mountains Insurance Group, Ltd. and Massachusetts Mutual Life Insurance Company (MassMutual). 

“Kudu continues to seek out specialized, high-quality active asset and wealth managers worldwide, and we’re thrilled to add the market-leading Gramercy team to our portfolio of partner firms,” said Kudu CEO Rob Jakacki.

Piper Sandler & Co. served as financial advisor and Dechert LLP was legal counsel to Gramercy. Seward & Kissel LLP served as legal advisor to Kudu.About Gramercy Funds Management

Gramercy is a dedicated emerging markets investment manager based in Greenwich, Conn., with offices in London, Buenos Aires and Mexico City. Founded in 1998, Gramercy serves a global institutional client base and seeks to provide investors with superior risk-adjusted returns through a comprehensive approach to emerging markets supported by a transparent and robust institutional platform. Gramercy offers both alternative and long-only strategies across emerging markets asset classes including multi-asset, private credit, public credit, and special situations. Gramercy is an SEC-registered firm and a Signatory of the Principles for Responsible Investment (PRI). Gramercy Ltd, an affiliate, is registered with the Financial Conduct Authority in London. For more information, please visit www.gramercy.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 partners White Mountains Insurance Group, Ltd. (NYSE: WTM) and MassMutual. For more information, please visit www.kuduinvestment.com

Media Contacts

For Gramercy:
Steve Bruce/Taylor Ingraham/Keely Gispan
ASC Advisors
+1 203-992-1230
sbruce@ascadvisors.com
tingraham@ascadvisors.com
kgispan@ascadvisors.com  

For Kudu:
Richard Chimberg/Margaret Kirch Cohen
Newton Park PR
+1 617-312-4281/+1 847-507-2229
rich@newtonparkpr.com
margaret@newtonparkpr.com

SOURCE Kudu Investment Management, LLC

MassMutual Becomes Equity Investor in Kudu Investment Management

NEW YORK, May 26, 2022 – Kudu Investment Management, LLC (Kudu), an independent provider of permanent capital solutions to asset and wealth managers worldwide, today announced that Massachusetts Mutual Life Insurance Company (MassMutual), a leading U.S. mutual life insurance company, has become an equity investor – joining White Mountains Insurance Group, Ltd. (NYSE: WTM).

 

Since 2018, New York-based Kudu has acquired minority stakes in 17 asset and wealth managers headquartered in the U.S., Canada, U.K., Australia.  As of March 31, 2022, Kudu-affiliated asset and wealth managers collectively invest $65 billion on behalf of individual and institutional investors worldwide in traditional and alternative strategies and market segments.

 

To date, Kudu has raised more than $800 million in equity and debt capital.  In 2021, Kudu closed a $350 million credit facility with Springfield, Mass.-based MassMutual, a longtime investor in the investment management industry.

 

“We’re delighted to enhance our relationship with Kudu and to support its continued growth with this new equity investment,” said Phillip Titolo, head of direct private investments for MassMutual. “The Kudu management team has assembled a broad range of world-class asset and wealth managers, and we look forward to working with Kudu’s portfolio companies.”

 

“Kudu has delivered robust results since our initial investment in 2018,” said Manning Rountree, White Mountains’ CEO. “We’re delighted to continue to invest in Kudu and to welcome MassMutual as a partner in the venture.”

 

“We’re pleased to welcome MassMutual as an equity investor and gratified by the strong continuing support from White Mountains as we expand our business globally,” said Kudu CEO Rob Jakacki. “Kudu completed four transactions in the past 12 months, and our pipeline of opportunities is filled with exceptional candidates for investments.”

 

 

About MassMutual

MassMutual is a leading mutual life insurance company that is run for the benefit of its members and participating policyowners. Founded in 1851, the company has been continually guided by one consistent purpose: we help people secure their future and protect the ones they love. With a focus on delivering long-term value, MassMutual offers a wide range of protection, accumulation, wealth management and retirement products and services. For more information, visit www.massmutual.com.

 

About White Mountains

White Mountains is a Bermuda-domiciled financial services holding company traded on the New York Stock Exchange and the Bermuda Stock Exchange under the symbol WTM.  Additional information is available at www.whitemountains.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 partners White Mountains Insurance Group, Ltd. (NYSE: WTM) and MassMutual. For more information, visit Kudu’s website.

 

Media Contacts

 

For MassMutual:

Chelsea Haraty

+1 413-426-2008

Chelseaharaty@massmutual.com

 

For White Mountains:

Rob Seelig

+1 (603) 640-2212

ir@whitemountains.com

 

For Kudu:

Richard Chimberg

Newton Park PR

M: +1 617-312-4281

rich@newtonparkpr.com

 

Margaret Kirch Cohen   

Newton Park PR

M: +1 847-507-2229

Margaret@newtonparkpr.com

###

Credit Specialist Radcliffe Capital Management Secures Minority Investment From Kudu Investment Management

NEW YORK and BALA CYNWYD, Pa., Jan. 10, 2022 – Radcliffe Capital Management, L.P. (Radcliffe), an SEC-registered investment adviser specializing in defensive credit and opportunistic strategies, and Kudu Investment Management, LLC (Kudu), an independent provider of permanent capital solutions to asset and wealth managers worldwide, today announced that Kudu has acquired a minority stake in Radcliffe and its affiliates. Financial terms were not disclosed.

Based near Philadelphia in Bala Cynwyd, Pennsylvania, Radcliffe was founded in 1996. Steve Katznelson, CFA, founding partner and chief investment officer, and Christopher Hinkel, director of research, are principals of the firm, which manages more than $3.5 billion for institutional and high net worth clients globally.

Radcliffe’s strategies include short and ultra-short duration bond, Business Development Company (BDC) bond, and Special Purpose Acquisition Company (SPAC) portfolios—all defensive investment vehicles that seek both attractive returns and principal protection.

“We are excited to partner with Kudu, a provider of passive and permanent capital with an excellent reputation and impressive portfolio of partner firms,” said Katznelson. “Radcliffe has a strong global client base and specialized strategies. Kudu’s global perspective and support will help us prudently expand our reach to institutions and high-net-worth families.”

“Our investment in Radcliffe represents a terrific opportunity to diversify our portfolio,” said Rob Jakacki, CEO of Kudu. “We have long admired Radcliffe’s management team, distinct defensive investment philosophy, proven track record of performance, and focus on measured growth.”

Kudu now has made investments in 19 asset and wealth management partner firms domiciled in the U.S., Canada, the U.K. and Australia, two of which are currently or previously managed for a third party. Kudu-affiliated asset and wealth managers collectively invest US$84 billion on behalf of individual and institutional investors worldwide in traditional and alternative strategies, as of Sept. 30, 2021. Founded in 2015, Kudu has more than US$650 million in capital commitments to date.

Piper Sandler & Co. served as financial advisor and Dechert LLP was legal counsel to Radcliffe. Seward & Kissel LLP served as legal advisor to Kudu.

About Radcliffe Capital Management
Radcliffe Group, Inc. was founded in 1996. Radcliffe Capital Management, LP is an SEC registered investment adviser that manages more than $3.5 billion across defensive credit and opportunistic strategies. Its clients include a cross section of institutions and high-net-worth individuals.

For 25 years, Radcliffe has evolved its team, models, systems, and risk controls to successfully invest in niche strategies by capitalizing on persistent and explainable structural market inefficiencies, where the principals of the firm want to heavily invest themselves. For more information, visit Radcliffe’s website.

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 Kudu’s website.

Media Contacts

For Kudu:
Margaret Kirch Cohen
CL-Media Relations, LLC
M: +1 847-507-2229
margaret@cl-media.com

Richard Chimberg
CL-Media Relations, LLC
M: +1 617-312-4281
rich@cl-media.com

Small Cap Specialist Granahan Investment Management Receives Minority Investment From Kudu Investment Management

NEW YORK and WALTHAM, Mass., Nov. 16, 2021 /PRNewswire/ — Granahan Investment Management, Inc. (GIM), a small cap equity investment boutique with $5.8 billion in assets under management, and Kudu Investment Management, LLC, a leading provider of permanent capital solutions to asset and wealth managers, today announced that Kudu has acquired a minority interest in GIM. Financial terms were not disclosed.

As part of the new partnership, more than 75% of the equity in GIM will continue to be held by its employees, broadly distributed across the firm. In addition, GIM will retain its autonomy over the operations of the firm.

Founded in 1985, GIM focuses on small cap equity portfolios for institutional investors across the globe. GIM’s suite of offerings includes U.S. micro, small, SMID, and mid cap strategies, as well as international and global small cap. The firm serves as sub-advisor on four unaffiliated mutual funds in the U.S. and offers a range of Irish-domiciled UCITS funds to non-U.S. investors.

“We were seeking a partner to support our growth initiatives and assist with our long-term succession plans,” said Jane White, founding partner, president and CEO of GIM. “Kudu’s permanent capital philosophy represents the perfect solution for us.”

“Our culture is grounded in collaboration and performance with team members who are curious, purposeful investors,” said Drew Beja, CFA, managing director and portfolio manager of GIM. “Kudu’s investment will help us continue to pursue our mission as we grow.”

“Granahan is an exceptional investment management firm with ambitious plans,” said Rob Jakacki, CEO of Kudu. “As Granahan continues to build out its investments and client base both in the U.S. and beyond, Kudu’s global reach and broad experience will be a great resource for its expansion efforts.”

Bottom-up stock selection drives the performance of all the Granahan Investment Management strategies, though each has a distinct emphasis—secular growth, unrecognized growth, or a sector bias. GIM’s Small Cap Focused Growth, Small Cap Select, SMID Select, and Small Cap Advantage all rank within the top 5% of their respective U.S. universes for the five years ending Sept. 30, 2021, according to eVestment, a Nasdaq company and a leading provider of institutional investment data. GIM’s flagship Small Cap Core Growth strategy is a broadly diversified portfolio with a 28-year record that, through Sept. 30, 2021, has outperformed its Russell 2000 Growth small cap benchmark by over 5% on an annualized basis. 

Founded in 2015, Kudu now has made minority investments in 18 asset and wealth management firms, including two managed for a third party. Kudu’s portfolio firms collectively invest approximately $100 billion on behalf of individual and institutional investors worldwide in traditional and alternative strategies, as of Sept. 30, 2021. Kudu has more than $650 million in capital commitments to date.

Colchester Partners LLC served as financial advisor and Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. was the legal counsel to Granahan. Seward & Kissel LLP served as legal advisor to Kudu.

About Granahan Investment Management, Inc.
Granahan Investment Management, Inc. (GIM), founded in 1985, is a small cap equity specialist with broad employee ownership and $5.8 billion in assets under management as of today. The firm offers micro cap, small cap, mid cap, and SMID strategies for institutions and high net worth individuals worldwide. For more information, visit www.granahan.com.

About Kudu Investment Management, LLC
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

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

Kudu Investment Management Closes New $300 Million Credit Facility With MassMutual

NEW YORKMarch 31, 2021 /PRNewswire/ — Kudu Investment Management, LLC, (Kudu) a provider of permanent capital solutions to asset and wealth managers globally, today announced the closing of a $300 million credit facility with Massachusetts Mutual Life Insurance Company (MassMutual), a leading U.S. mutual life insurance company, to finance Kudu’s growth initiatives.

New York-based Kudu, backed by capital partner White Mountains Insurance Group, Ltd. (NYSE: WTM), has deployed nearly $400 million since 2018, acquiring minority stakes in 13 asset and wealth managers globally. These firms had combined managed assets of more than $45 billion as of Dec. 31, 2020, spanning a range of asset classes and investment platforms, including alternative credit, hedge funds, impact investing, private equity, public equity, and real assets.

“Kudu’s thoughtful capital solutions are beneficial to asset and wealth managers and equally attractive to its investors,” said Phillip Titolo, head of direct private investments at MassMutual. “The management team’s strategy and execution skills are admirable, and we’re pleased to be part of Kudu’s next growth phase.”

“Kudu was active in 2020, completing five transactions, and we have a robust pipeline of opportunities globally to expand our portfolio of partner firms,” said Kudu CEO Rob Jakacki. “MassMutual is an experienced and successful investor in the asset management industry and it’s gratifying to have the firm as a financial backer.”

About MassMutual

MassMutual is a leading mutual life insurance company that is run for the benefit of its members and participating policyowners. Founded in 1851, the company has been continually guided by one consistent purpose: we help people secure their future and protect the ones they love. With a focus on delivering long-term value, MassMutual offers a wide range of protection, accumulation, wealth management and retirement products and services. For more information, visit www.massmutual.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).

SOURCE Kudu Investment Management

Link to original release: click here

 

Ranger Investment Management Consolidates Ownership Interest With Capital From Kudu Investment Management

 

FOR IMMEDIATE RELEASE

 

Ranger Investment Management Consolidates Ownership Interest With Capital From Kudu Investment Management

 

DALLAS, Nov. 18, 2020 – Ranger Investment Management, L.P. (Ranger Investments), a boutique manager specializing in small- and micro-cap U.S. growth strategies, today announced its management is acquiring a controlling interest in the firm previously held by Ranger Capital Group. Kudu Investment Management, LLC (Kudu), an independent provider of permanent capital solutions to asset and wealth managers worldwide, financed the transaction and will have a passive, minority interest in Ranger Investments. Financial terms were not disclosed, and the transaction is subject to customary approvals.

 

Dallas-based Ranger Investments manages approximately $1.6 billion in discretionary and $400 million in non-discretionary assets. Upon closing, Ranger Investments will be led and controlled by its management team. Established in 2003, the firm serves clients including pension funds, endowments, foundations and family offices. It offers two mutual funds—Ranger Small Cap Fund (RFISX) and the Ranger Micro Cap Fund (RFIMX).

 

“This transformative transaction consolidates our management team’s ownership of Ranger Investments and helps ensure long-term and multi-generational stability,” said W. Conrad Doenges, the firm’s chief investment officer. “Each investment team partner now owns a greater personal share in the firm, strengthening our alignment with and commitment to clients.”

 

“Kudu is delighted to partner with Conrad and the firm’s management team,” said Rob Jakacki, Kudu’s CEO. “With a long-term capital commitment from Kudu, we believe a boutique firm like Ranger Investments can produce better outcomes for clients when it has full control of its own destiny.”

 

In addition to Doenges, Ranger Investments’ management committee consists of current principals Andrew Hill, president and portfolio manager; Joseph LaBate, managing director and portfolio manager; and Brown McCullough, director and sector manager. Ranger Investments will retain key back office personnel and operations and administration will continue unchanged through a service agreement with Ranger Capital Group.

 

“We are grateful for the support over the past 17 years from the partners at Ranger Capital. Their willingness to allow the management of Ranger Investments to increase our ownership in the business is a testimony to the working partnership we’ve had,” said Doenges.

 

Winstead PC served as legal advisor to Ranger Investments and Seward & Kissel LLP provided legal counsel to Kudu.

 

 

 

 

ABOUT RANGER INVESTMENT MANAGEMENT

 

Ranger Investment Management, L.P. is a boutique equity investment manager that offers U.S. small- and micro-cap growth strategies. Formed in 2003, Ranger Investments is an SEC-registered investment adviser, owned and controlled by employees. The firm’s strategies aim to preserve and grow capital by utilizing a bottom-up, fundamental research process to identify growing, high quality companies that can be purchased at attractive valuations. For more information, please visit: https://www.rangerinvestments.com.

 

ABOUT KUDU INVESTMENT MANAGEMENT

Kudu Investment Management 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. 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 Ranger Investment Management

Conrad Doenges, cdoenges@rangercap.com, (+1) 214 871 5265 (office) (+1) 214 850 3015 (mobile)

Pete Kris, pkris@rangercap.com, (+1) 214 871 5206 (office) (+1) 415 760 0011 (mobile)

 

For Kudu Investment Management

Sarah Lazarus, sarah@cl-media.com, (+1) 617 335 7823

Rich Chimberg, rich@cl-media.com, (+1) 617 312 4281