Oaktree Capital Managment and White Mountains Insurance Group Ltd. (NYSE: WTM) made a $250 million investment in asset management firm Kudu Investment Managment LLC. The companies wil make additional investment opportunities in the alternative investment sector.
New York-based Kudu provides asset management services to those who seek investment opportunities, such as minority stakes,, but want to remain independent. The firm was founded in 2015 by Rob Jakacki and Charlie Ruffel.
"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," says Kudu Rob Jakacki.
Oaktree is a Los Angeles-based alternative investment firm that focuses on distressed and high yield debt, along with convertible securities and real estate. The firm has more than $100 billion under management. In a recent similar deal, Lovell Minnick has acquired a stake in investment manager Tortoise Investments LLC. The buyer is acquiring the equity stake from Mariner Holdings and retiring co-founders of Tortoise.