NEW YORK, March 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).
For more information, please visit Kudu's website.
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SOURCE Kudu Investment Management