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

 

 

Channel Capital Undertakes Management Buyout Supported by Kudu Investment Management

NEW YORK and SYDNEY, Nov. 9, 2020 – Channel Capital Pty Ltd. (Channel), a leading Australian multi-affiliate investment management company servicing more than A$16 billion in assets, will undertake a management buyout from minority equity partner Highbury Partnership (Highbury), subject to customary approvals.

New York-based Kudu Investment Management, LLC (Kudu), an independent provider of permanent capital solutions to asset and wealth managers, is providing financing for the buyout and additional capital for the firm. Upon completion of the transaction, expected in November, Channel’s employee shareholders will control a greater share of the diversified investment management group. Kudu will own a passive, minority share in the business. Financial terms were not disclosed.

Channel provides incubation, operations, distribution, marketing and responsible entity services to a select group of investment management companies and their clients across the institutional, family office, high net worth and advisor-led investor space in Australia and New Zealand. Channel’s subsidiary, Channel Investment Management Limited (CIML), is licensed as a responsible entity in Australia, enabling it to act as both trustee and manager.

“While the business has prospered in partnership with Highbury, we’ve reached the next level of growth, requiring a renewed strategy to both consolidate and capitalize on what we’ve built,” said Glen Holding, Channel’s co-founder and managing director. “Partnering with Kudu will greatly enhance our ability to pursue larger growth opportunities both within and outside of Australia.”

“As our first transaction in Australia, one of the world’s largest pension markets, we jumped at the chance to support Channel in achieving its full potential,” said Charles Ruffel, chairman and managing partner of Kudu. “Channel’s leadership and strong focus on investor outcomes permeate the organization, and we look forward to a long and fruitful working relationship in Australia and globally.”

Established in 2013, Channel has 27 employees across Sydney, Brisbane and Melbourne. Channel currently partners with eight investment management firms. Channel subsidiary CIML provides responsible entity services to a limited set of funds managed or advised by its partner firms as well as a select group of institutions.

With Channel, Kudu will have 14 affiliated firms that collectively manage or advise approximately US$75 billion on behalf of individual and institutional investors worldwide in traditional and alternative strategies, as of Sept. 30, 2020. Kudu, with US$475 million in capital commitments to date, is backed by White Mountains Insurance Group, Ltd. (NYSE: WTM), a financial services holding company.

Berkshire Global Advisors served as financial advisor and Hall and Wilcox served as legal advisor to Channel. Minter Ellison served as legal advisor to Kudu.

 

About Channel Capital

Channel provides incubation, distribution, operational and responsible entity services to a select group of investment management firms and their clients across the institutional, family office, high net worth and advisor-led investor space. Channel’s subsidiary entity, CIML, provides responsible entity services to a limited set of funds. Channel currently services more than A$16 billion in client assets. Learn more here: https://www.channelcapital.com.au.

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. 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 Channel Capital:

Angela Dovitsas

M: +61 417 277 683

angela.dovitsas@chanelcapital.com.au

 

 

For Kudu:

Sarah Lazarus

CL-Media Relations, LLC

M: +1 617-335-7823

sarah@cl-media.com

 

Rich Chimberg

CL-Media Relations, LLC

M: +1 617-312-4281

rich@cl-media.com

 

CC K release 11.9.20 FINAL4

Sequoia Financial Group Partners With Kudu Investment Management To Buttress Continued Growth

NEW YORK and AKRON, OHIO, July 7, 2020 – Sequoia Financial Group, LLC (Sequoia), a registered investment advisor with $4.7 billion in client assets, and Kudu Investment Management, LLC (Kudu), an independent provider of long-term capital solutions to asset and wealth managers worldwide, have announced that Kudu has made a strategic investment in Sequoia. Financial terms were not disclosed.

Sequoia provides financial planning, asset management, family wealth and retirement planning services. The firm is majority-owned by employees and continues to be led by Tom Haught, founder, president and CEO.

“In our pursuit of building an enduring firm, we are creating generational capital that will strengthen us now and offer durability and continuity for the future,” Haught said. “Kudu’s investment will help accelerate our U.S. expansion plans and support our mission, which is to be our clients’ most trusted advisor.”

“Tom and the Sequoia team have built a lasting and client-centric wealth management platform,” said Rob Jakacki, CEO of Kudu Investment Management. “We were attracted to the quality of leadership and focus on investor outcomes at Sequoia and are thrilled to be partnering with them.”

Established in 1991, Sequoia has 88 employees in six locations throughout Florida, Michigan, and Ohio. Sequoia was recognized by Schwab Advisor Services with the 2019 Best-in-Business IMPACT Award™ and named one of Barron’s Top 50 RIAs for 2019. Learn more here: https://www.sequoia-financial.com/awards.

Founded in 2015, Kudu now has 13 partner firms that collectively invest $57 billion on behalf of individual and institutional investors worldwide in traditional and alternative strategies, as of March 31, 2020. Kudu, with more than $500 million in capital commitments to date, is partnered with White Mountains Insurance Group, Ltd. (NYSE: WTM), a financial services holding company.

Colchester Partners, LLC served as financial advisor and Benesch, Friedlander, Coplan & Aronoff LLP served as legal advisor to Sequoia. Seward & Kissel LLP served as legal advisor to Kudu.

About Sequoia
Founded in 1991, Sequoia Financial Group, LLC takes a client-centered approach to providing comprehensive financial planning and wealth management services, including asset management, estate and retirement planning, fiduciary consulting and family wealth. Sequoia is committed to exceptional client service by building and maintaining strong relationships that emphasize long-term planning to help clients reach their financial and life goals. Learn more here: https://www.sequoia-financial.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. 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 Sequoia Financial Group:
Megan Howell
Dir: +1 216-774-1145
M: +1 440-258-3698
mhowell@sequoia-financial.com

For Kudu:
Sarah Lazarus
CL-Media Relations, LLC
M: +1 617-335-7823
sarah@cl-media.com

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

###

Sequoia_Kudu_Release FINAL

Kudu Makes Minority Investment in Private Equity Firm Creation Investments

NEW YORK and CHICAGO, March 31, 2020 – Kudu Investment Management, LLC, a New York-based
provider of long-term capital solutions to asset and wealth managers worldwide, today announced it has
made a strategic investment in Creation Investments Capital Management, LLC, a private equity firm
specializing in impact investments. Financial terms of the transaction, which closed on March 30, were
not disclosed.

Chicago-based Creation is a leader in the use of private capital to support micro lending, small- and
medium-enterprise credit and other financial services in developing markets where access to capital is
limited. The firm is aligned with the United Nations Sustainable Development Goals that aim to
significantly affect those living at the bottom of the economic pyramid.

As of Dec. 31, 2019, Creation managed $707 million in private funds and other vehicles on behalf of
individuals, family offices and institutional investors. Its portfolio companies directly serve more than 21
million micro and small businesses, with $13.6 billion in loans outstanding, and support more than 8.3
million jobs in the developing world.

“Our mission is to promote financial inclusion efforts in the developing world working alongside our
portfolio companies on behalf of our investors,” said Patrick Fisher, founder and managing partner of
Creation Investments. “In Kudu, our team has found a supportive strategic partner to help us accelerate
our growth.”

“We are pleased to partner with Creation to help enhance the next phase of the firm’s growth,” said
Rob Jakacki, Kudu’s CEO. “Patrick and his talented team have demonstrated an exceptional ability to
drive impact investments while also delivering strong financial returns to investors.”

Kudu’s 12 partner firms, including Creation, employ multiple investment strategies across asset and
wealth management.

PL Advisors, through its relationship with M&A Securities Group, an unaffiliated broker dealer, served as
financial advisor, and Mayer Brown LLP served as legal advisor to Creation. Seward & Kissel LLP served
as legal advisor to Kudu.

About Creation Investments

Creation Investments Capital Management, LLC is a leading impact investment management company
dedicated to private equity investments in the financial services industry. Leveraging its deep industry
experience, Creation partners with management teams to inject growth equity and facilitate buyout
transactions in firms specializing in microfinance, small- and medium-enterprise credit, leasing, factoring,
insurance, savings, payments and mobile money. www.creationinvestments.com.

About Kudu Investment Management

Kudu is an independent firm specializing in providing permanent 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 is backed by capital partner White
Mountains Insurance Group, Ltd. (NYSE: WTM). For more information, please visit Kudu’s website.

Media Contacts

Sarah Lazarus
CL-Media Relations, LLC
M: +1 617-335-7823
sarah@cl-media.com

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

###

Pacific Current, Kudu Invest in Pennybacker Capital Management

AUSTIN, TEXAS, Dec. 16, 2019 — Pennybacker Capital Management, LLC (“Pennybacker”), a real estate private equity firm, has announced that Pacific Current Group Limited (ASX:PAC, “PAC”), and Kudu Investment Management, LLC (“Kudu”) have on an equal basis purchased a minority stake in Pennybacker. Pennybacker did not disclose terms.

 

PAC is a multi-boutique asset management firm with offices in the Pacific Northwest and Australia. PAC invests permanent capital in boutique asset management firms that seek long-term growth. Including Pennybacker, PAC has investments in 16 boutique asset managers globally. Kudu, headquartered in New York, provides permanent capital solutions to asset managers and wealth managers worldwide. Its investment partners collectively manage over $50 billion.

 

Pennybacker is an Austin-based technology-driven, alternative investment manager. The firm’s strategies focus on retail, office, and industrial assets, as well as affordable multifamily properties across the United States. Pennybacker’s assets under management exceed $1.9 billion.

 

Pennybacker plans to use the proceeds from the transaction to further strengthen the management company balance sheet and fund various technology, investment, staffing, and growth initiatives. The firm will continue to be overseen by its founder and principals and there will be no changes to its strategies or day-to-day operations.

 

Pennybacker Founder, President and CEO, Tim Berry, noted that, “We are thrilled to be partnering with PAC and Kudu. PAC and Kudu’s deep experience and successful track record of partnering with investment managers in a broad range of asset classes across the globe will greatly benefit Pennybacker’s long-term strategic plans and future growth. We are excited about the opportunities our relationship with PAC and Kudu will create for our platform.”

 

PAC CEO & CIO, Paul Greenwood stated that, “Pennybacker is a truly unique investment firm. It is distinguished by its culture, the application of advanced technology to private real estate investing, and the consistently strong results it has produced for its clients.” He added, “This investment in Pennybacker expands our efforts to partner with best-in-class boutique alternative investment firms that have carved out unique niches within their respective industries.”

 

Rob Jakacki, Kudu CEO, said, “Kudu is excited to be partnering with Pennybacker, an outstanding alternative asset manager with a cutting-edge approach to real estate investing. We look forward to supporting Tim and his team as they grow their franchise.”

 

Berkshire Global Advisors served as the exclusive investment banking advisor to Pennybacker on this transaction.

 

 

ABOUT PENNYBACKER CAPITAL MANAGEMENT

Pennybacker Capital Management is an alternative investment manager focused on real estate private equity investments. Pennybacker has offices in Austin, Denver, New York, and Nashville (opening in 2020).

 

The firm pursues value, credit, and income & growth strategies across all real estate asset classes.

 

Pennybacker has a proven 12+ year track record of investing in and/or operating over 170 commercial and multifamily real estate properties throughout the United States. To date, the firm has sponsored six discretionary value-add real estate private equity funds, two real estate credit funds, and four income and growth separate accounts.

 

ABOUT PACIFIC CURRENT GROUP

Pacific Current Group Limited is a multi-boutique asset management firm dedicated to providing exceptional value to shareholders, investors and partners. Pacific Current applies their strategic resources, including capital, institutional distribution capabilities and operational expertise to help their partners excel. Including Pennybacker, Pacific Current Group has investments in 16 boutique asset managers globally.

 

ABOUT KUDU INVESTMENT MANAGEMENT

Kudu provides permanent capital solutions to asset and wealth managers and is backed by partner White Mountains Insurance Group, Ltd. (NYSE: WTM). Kudu has made investments in 11 partner firms in the U.S. and Europe managing over $50 billion in combined assets for investors worldwide. www.kuduinvestment.com

 

Media Contacts:

Jessica Coffman (for Pennybacker), jcoffman@pennybackercap.com, (+1) 512 814 2115

Jessica Rettig (for PAC), jrettig@paccurrent.com, (+1) 720 398 6711

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

 

 

EJF Capital Receives Strategic Minority Investment From Kudu

Neal Wilson Named Co-Chief Executive Officer

NEW YORK and ARLINGTON, Va., September 4, 2019 – EJF Capital LLC (“EJF”), a global alternative asset management firm focused on regulatory event driven themes across the financial and real estate sectors, today announced that Kudu Investment Management, LLC (“Kudu”), a New York-based independent provider of permanent capital solutions to asset and wealth managers worldwide, has made a strategic minority investment in EJF. Terms of the transaction were not disclosed.

The investment by Kudu, a firm with a passive, patient capital model, will not impact the day-to-day operations of EJF, and the firm’s investment and decision-making processes will remain the same. EJF intends to use the proceeds as strategic growth capital to invest in its existing and future funds and securitization vehicles.

“Kudu has significant experience investing in specialized investment managers and we welcome them as a long-term strategic partner,” said EJF co-founders Manny Friedman and Neal Wilson. “This investment provides EJF with permanent capital that will strengthen our business and bolster our ability to build and scale our global platform over time.”

“We are thrilled to support EJF, a firm distinguished by its talented team led by Manny and Neal, creative investment approach and strong track record of performance,” said Rob Jakacki, Kudu’s CEO. “Our investment will help EJF expand its global investment offerings and we look forward to a long-term relationship.”

EJF also announced that Neal Wilson, co-founder and chief operating officer, has been named the firm’s co-chief executive officer alongside Mr. Friedman.

“Neal and I launched EJF 14 years ago with the goal of creating a collaborative and collegial environment with a client-first approach. It gives me great pleasure that Neal is joining me as co-CEO. He is a true partner, visionary investor and natural leader. I am excited to work alongside Neal for years to come,” Mr. Friedman said.

In addition to EJF, Kudu’s valued partners include alternatives platform TIG Advisors; real assets investor Versus Capital; European alternative credit specialist Fair Oaks Capital; property fund manager Savanna; and wealth managers B|O|S and First Long Island Investors. These firms collectively manage approximately $30 billion in AUM for institutional and individual investors worldwide.

Barclays Capital Inc. served as financial advisor and Fried Frank Harris Shriver & Jacobson LLP served as legal advisor to EJF. Seward & Kissel LLP served as legal advisor to Kudu.

About EJF Capital

EJF is a global institutional alternative asset management firm focused on regulatory event-driven investing within financials and real estate. EJF is headquartered outside of Washington D.C., with offices in London and Shanghai; the firm manages approximately $7.6 billion (as of June 30, 2019) in assets across hedge funds, private equity, real estate funds, and separately managed accounts, in addition to approximately $3 billion in structured products. EJF’s approach combines investment expertise across the capital structure with a corporate finance focus to unearth creative investment solutions.

About Kudu Investment Management

Kudu is an independent firm specializing in providing permanent 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).

Media Contacts

For EJF:
Nathaniel Garnick/Kevin FitzGerald
Gasthalter & Co.
(212) 257-4170

For Kudu:
Sarah Lazarus
CL-Media Relations, LLC
M: +1 617-335-7823
sarah@cl-media.com

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

Kudu Investment Management Acquires Minority Stake In Wealth Manager First Long Island Investors

NEW YORK, July 29, 2019 — Kudu Investment Management, LLC, a provider of permanent capital solutions to asset and wealth managers worldwide, has acquired a passive minority interest in Jericho, N.Y.-based First Long Island Investors, LLC which oversees approximately $1.6 billion in assets for high net worth individuals and families. Terms were not disclosed.

First Long Island was co-founded in 1983 by Robert D. Rosenthal and Ralph F. Palleschi, prominent local entrepreneurs who earlier in their careers were senior officers at both Entenmann’s national baked goods company and the Islanders pro hockey franchise. Rosenthal conceived First Long Island while working with Palleschi on the financial and investment needs of the Entenmann family. The operating and investing experience they gained from these endeavors made them attractive to similar clients – business owners, entrepreneurs, and wealthy families. They are well-known for delivering investment and wealth management services rooted in their core principles of trust, service, and performance.

“Bob and Ralph and their team have built an exceptional franchise, serving entrepreneurs and other high net worth individuals in the greater New York area. We look forward to them continuing their uniquely client-centric approach that is evident in every aspect of the relationship from asset allocation to service, communication, and more,” said Kudu CEO Rob Jakacki.

“The Kudu team really understood our service culture and entrepreneurial DNA. We were attracted to their philosophy of only investing in firms that continue to be managed and controlled entirely by their existing owners,” said Rosenthal, who is First Long Island’s chairman, CEO, and CIO. “Kudu also brings us a top-tier and growing network of partner firms and relationships we hope to leverage as we enter our next phase of growth.”

Kudu’s partners include West Coast wealth manager B|O|S; New York property fund manager Savanna; alternative asset platform TIG Advisors; real assets investor Versus Capital; and European alternative credit specialist Fair Oaks Capital. Kudu’s partners collectively manage approximately $19 billion in AUM for institutional and individual investors.

Sandler O’Neill & Partners, L.P. acted as financial advisor and Seward & Kissel LLP served as legal advisor to First Long Island Investors, LLC. Dechert LLP served as legal advisor to Kudu Investment Management, LLC.

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