White Mountains invests in Kudu
White Mountains Insurance Group Ltd and Oaktree Capital Management have invested $250 million in Kudu Investment Management, LLC.
Kudu is a capital provider to asset management and wealth management firms.
The investment comes from funds managed by Oaktree Capital Management, a global alternative investment management firm, and Bermudian-based financial services holding company White Mountains Insurance Group.
Kudu is based in New York and provides capital solutions to asset managers and registered investment advisers, including generational ownership transfers, management buyouts, acquisition and growth finance, as well as liquidity for legacy partners. It was launched in 2015 by Rob Jakacki, former chief investment officer of Asset Management Finance, and Charlie Ruffel, former chief executive officer of Asset International.
“Our partnership with Oaktree and White Mountains enables Kudu to pursue additional opportunities to invest in boutique firms in both traditional and alternative classes. We identify firms with focused capabilities and demonstrated value-added for their clients, where we can apply the flexible capital solutions and management alignment strategy that are the hallmark of our firm,” said Rob Jakacki, CEO of Kudu.
Manning Rountree, CEO of White Mountains, said: “We are delighted to back Rob, Charlie and the Kudu team, whose experience and capabilities are first rate, and to invest alongside Oaktree. We look forward to a fruitful partnership.”