Kudu Closes $250 Million Investment from Oaktree and White Mountains

April 2, 2018

On February 5, 2018, Seward & Kissel client, Kudu Investment Management announced that it has closed a $250 million investment from Oaktree Capital Management and White Mountains Insurance.

Under the terms of the transaction, Kudu Investment Management, LLC (“Kudu”) will receive a $250 million investment from funds managed by Oaktree Capital Management, L.P. (“Oaktree”) and from White Mountains Insurance Group, Ltd. (“White Mountains”) in a strategic partnership with Oaktree and White Mountains. A Seward & Kissel team led by Business Transactions Group partner Meir Grossman and associate Danielle Lemberg represented Kudu in connection with the transaction. Further terms were not disclosed.

Kudu, launched in 2015, is a New York-based registered investment advisor that specializes in minority equity investments in asset management firms, wealth management firms, and pooled investment vehicles in the United States and Canada. As of February 13, 2018, Kudu had over $287 million in assets under management.

Oaktree is a Los Angeles-based alternative investment manager that specializes in credit strategies for institutional clients, including insurance companies, sovereign wealth funds, and pension plans. With over 900 employees and offices in 18 cities worldwide, Oaktree has $100 billion in assets under management as of December 31, 2017.

White Mountains (NYSE: WTM) is a Bermuda-based financial services holding company that specializes in property and casualty insurance and reinsurance. White Mountains has approximately $6.5 billion in total assets.

To read the press release: please click here.


Categories

Investment Manager Financings, Investment Manager Private Equity, Transactions