Kudu Investment Management, LLC (Kudu), an independent provider of permanent capital solutions to asset and wealth managers worldwide, announced that Massachusetts Mutual Life Insurance Company (MassMutual), a leading U.S. mutual life insurance company, has become an equity investor – joining White Mountains Insurance Group, Ltd..
Since 2018, New York-based Kudu has acquired minority stakes in 17 asset and wealth managers headquartered in the U.S., Canada, U.K., and Australia. As of March 31, 2022, Kudu-affiliated asset and wealth managers collectively invest $65 billion on behalf of individual and institutional investors worldwide in traditional and alternative strategies and market segments.
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To date, Kudu has raised more than $800 million in equity and debt capital. In 2021, Kudu closed a $350 million credit facility with Springfield, Mass.-based MassMutual, a longtime investor in the investment management industry.
“We’re delighted to enhance our relationship with Kudu and to support its continued growth with this new equity investment,” said Phillip Titolo, head of direct private investments for MassMutual. “The Kudu management team has assembled a broad range of world-class asset and wealth managers, and we look forward to working with Kudu’s portfolio companies.”
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“Kudu has delivered robust results since our initial investment in 2018,” said Manning Rountree, White Mountains’ CEO. “We’re delighted to continue to invest in Kudu and to welcome MassMutual as a partner in the venture.”
“We’re pleased to welcome MassMutual as an equity investor and gratified by the strong continuing support from White Mountains as we expand our business globally,” said Kudu CEO Rob Jakacki. “Kudu completed four transactions in the past 12 months, and our pipeline of opportunities is filled with exceptional candidates for investments.”
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