Kudu Investment Management Closes New $300 Million Credit Facility With MassMutual

Rhea-AI Summary

Kudu Investment Management has successfully secured a $300 million credit facility from Massachusetts Mutual Life Insurance Company to support its growth initiatives. Since 2018, Kudu has invested nearly $400 million, acquiring minority stakes in 13 asset and wealth management firms, which manage over $45 billion in combined assets as of December 31, 2020. Kudu's CEO, Rob Jakacki, highlighted their strong momentum in 2020, completing five transactions and looking to expand their portfolio further.

Positive

• Secured a $300 million credit facility to finance growth initiatives.
• Acquired minority stakes in 13 asset and wealth management firms since 2018, managing over $45 billion in assets.
• Demonstrated robust activity with five transactions completed in 2020.

Negative

• None.

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

FAQ

What is the significance of Kudu Investment Management's $300 million credit facility?

The $300 million credit facility from MassMutual will enhance Kudu Investment Management's ability to finance further growth initiatives and investments.

How much has Kudu Investment Management invested since 2018?

Kudu Investment Management has deployed nearly $400 million since 2018 in acquiring minority stakes in asset and wealth managers.

How many firms does Kudu Investment Management partner with?

Kudu Investment Management has partnered with 13 asset and wealth management firms globally.

What assets do the firms partnered with Kudu manage?

The firms partnered with Kudu manage combined assets exceeding $45 billion as of December 31, 2020.

What growth activities did Kudu engage in during 2020?

Kudu Investment Management completed five transactions in 2020 and has a strong pipeline of opportunities for expansion.