Douglass Winthrop Advisors Secures Minority Investment From Kudu Investment Management

Rhea-AI Summary

Douglass Winthrop Advisors, LLC (DWA), managing over $4.8 billion in assets, has partnered with Kudu Investment Management. Kudu has acquired a minority stake in DWA, enhancing DWA's growth capital while maintaining its independence. The partnership aims to provide financial security and leadership continuity. Established in 2000, DWA offers investment advisory services primarily to high net worth clients. Kudu, founded in 2015, backs 17 firms and manages approximately $96 billion globally.

Positive

• Acquisition of minority stake by Kudu strengthens DWA's financial position.
• Partnership enables DWA to maintain independence and continuity in leadership.
• Kudu's investment provides access to growth capital.

Negative

• None.

NEW YORK, Sept. 15, 2021 /PRNewswire/ -- Douglass Winthrop Advisors, LLC (DWA), an SEC-registered investment advisor managing more than $4.8 billion in assets, is partnering with Kudu Investment Management, LLC (Kudu), an independent provider of permanent capital solutions to asset and wealth managers worldwide. Under terms of an agreement reached on Sept. 13, Kudu has acquired a minority stake in DWA. Financial terms were not disclosed.

Founded in 2000, DWA has 32 employees and offices in New York, Boston, Washington, D.C., and West Palm Beach. The firm provides investment advisory and wealth management services for high net worth clients, with a focus on multi-generational families and trusts. DWA also has a growing roster of institutional clients.

"Partnering with Kudu ensures DWA can remain independent, with access to growth capital and a strategy for long-term continuity in leadership," said Jay Winthrop, DWA co-founder and managing principal. "Kudu and DWA have a shared belief that independent, trusted financial advice is increasingly in demand by sophisticated investors and their families."

"We are pleased to welcome Kudu as a partner," said Lea Paine Highet, managing principal of DWA. "The permanent capital the firm is providing will reinforce our commitment to serve as our clients' trusted advisor for years to come."

"We are delighted to make this investment in Douglass Winthrop," said Rob Jakacki, CEO of Kudu. "DWA's client-centric, premium service culture is the key to its success. Providing DWA the financial freedom to maintain this approach is our focus, and we look forward to supporting its entire team as the firm continues to grow."

Founded in 2015, Kudu now has 17 partner firms, including two managed for a third party, that collectively invest approximately $96 billion on behalf of individual and institutional investors worldwide in traditional and alternative strategies, as of June 30, 2021. Kudu has more than $650 million in capital commitments to date.

Berkshire Global Advisors, LP served as financial advisor and Dechert LLP was the legal counsel to DWA. Seward & Kissel LLP served as legal advisor to Kudu.

About Douglass Winthrop Advisors, LLC
Douglass Winthrop Advisors is a New York City-based SEC-registered investment advisor. The firm manages more than $4.8 billion for individuals, families, trusts, endowments and institutions. It is majority owned by its principals. For more information, visit https://www.douglasswinthrop.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, visit https://www.kuduinvestment.com/.

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SOURCE Kudu Investment Management, LLC

FAQ

What does the investment from Kudu mean for WTM shareholders?

The investment in Douglass Winthrop Advisors may enhance the financial stability of Kudu, which is backed by White Mountains Insurance Group (NYSE: WTM), potentially benefiting shareholders.

When was the agreement between DWA and Kudu finalized?

The agreement was reached on September 13, 2021.

How much capital does Kudu Investment Management manage?

Kudu Investment Management is associated with approximately $96 billion in investments across 17 partner firms.

What is the significance of Douglass Winthrop Advisors partnering with Kudu?

The partnership allows DWA to access growth capital while ensuring its independence, aimed at long-term client service.