RiverNorth Capital Management Partners With Kudu Investment Management to Support Expansion
RiverNorth Capital Management, an investment manager specializing in opportunistic strategies and closed-end funds, has secured a passive, minority investment from Kudu Investment Management. Founded in 2000, RiverNorth manages $5.2 billion in assets across registered funds, private funds, and separately managed accounts.
The partnership aims to support RiverNorth's growth while maintaining its majority employee ownership and control. This marks Kudu's 27th permanent capital investment, with their partner firms collectively managing approximately $123 billion as of September 30, 2024. The financial terms of the investment were not disclosed.
RiverNorth Capital Management, un gestore di investimenti specializzato in strategie opportunistiche e fondi chiusi, ha ottenuto un investimento passivo di minoranza da Kudu Investment Management. Fondata nel 2000, RiverNorth gestisce $5,2 miliardi in attivi attraverso fondi registrati, fondi privati e conti gestiti separatamente.
La partnership mira a sostenere la crescita di RiverNorth mantenendo il suo possesso e controllo maggioritario da parte dei dipendenti. Questo segna il 27° investimento in capitale permanente da parte di Kudu, con le loro società partner che gestiscono complessivamente circa $123 miliardi a partire dal 30 settembre 2024. I termini finanziari dell'investimento non sono stati divulgati.
RiverNorth Capital Management, un gestor de inversiones especializado en estrategias oportunistas y fondos cerrados, ha asegurado una inversión pasiva de minoría de Kudu Investment Management. Fundada en 2000, RiverNorth gestiona $5.2 mil millones en activos a través de fondos registrados, fondos privados y cuentas administradas por separado.
La asociación tiene como objetivo apoyar el crecimiento de RiverNorth mientras mantiene su propiedad y control mayoritario por parte de los empleados. Esta es la 27ª inversión de capital permanente de Kudu, con sus firmas asociadas que gestionan colectivamente aproximadamente $123 mil millones a fecha del 30 de septiembre de 2024. Los términos financieros de la inversión no fueron divulgados.
RiverNorth Capital Management는 기회주의 전략과 폐쇄형 펀드에 특화된 투자 관리 회사로, Kudu Investment Management로부터 수동적인 소수 지분 투자를 확보했습니다. 2000년에 설립된 RiverNorth는 등록된 펀드, 사모 펀드 및 별도로 관리되는 계좌를 통해 총 $5.2 billion의 자산을 관리하고 있습니다.
파트너십은 RiverNorth의 성장을 지원하는 동시에 직원의 다수 소유권과 통제를 유지하는 것을 목표로 합니다. 이것은 Kudu의 27번째 영구 자본 투자로, 그들의 파트너 회사는 2024년 9월 30일 기준으로 약 $123 billion을 공동으로 관리하고 있습니다. 투자에 대한 금융 조건은 공개되지 않았습니다.
RiverNorth Capital Management, un gestionnaire d'investissements spécialisé dans les stratégies opportunistes et les fonds fermés, a obtenu un investissement passif de minorité de Kudu Investment Management. Fondée en 2000, RiverNorth gère 5,2 milliards de dollars d'actifs à travers des fonds enregistrés, des fonds privés et des comptes gérés séparément.
Ce partenariat vise à soutenir la croissance de RiverNorth tout en maintenant la majorité de la propriété et du contrôle par les employés. Cela marque le 27ème investissement en capital permanent de Kudu, chaque entreprise partenaire gérant collectivement environ 123 milliards de dollars au 30 septembre 2024. Les termes financiers de l'investissement n'ont pas été divulgués.
RiverNorth Capital Management, ein Anlageverwalter, der sich auf opportunistische Strategien und geschlossene Fonds spezialisiert hat, hat eine passive Minderheitsinvestition von Kudu Investment Management gesichert. Gegründet im Jahr 2000, verwaltet RiverNorth $5,2 Milliarden an Vermögenswerten in registrierten Fonds, Privatfonds und separat verwalteten Konten.
Die Partnerschaft zielt darauf ab, das Wachstum von RiverNorth zu unterstützen und gleichzeitig den Mehrheitsbesitz und die Kontrolle durch die Mitarbeiter aufrechtzuerhalten. Dies markiert Kudu's 27. dauerhafte Kapitalinvestition, wobei ihre Partnerfirmen zum 30. September 2024 insgesamt etwa $123 Milliarden verwalten. Die finanziellen Bedingungen der Investition wurden nicht bekannt gegeben.
- RiverNorth manages substantial assets of $5.2 billion
- Strategic partnership with Kudu provides access to growth capital and expertise
- Maintains majority employee ownership and control post-investment
- None.
Insights
The strategic investment by Kudu in RiverNorth represents a significant development in the asset management sector. RiverNorth's
This deal strengthens RiverNorth's position for both organic and inorganic growth opportunities in the closed-end fund space. While financial terms weren't disclosed, Kudu's passive minority stake provides RiverNorth with strategic capital while maintaining its independence and employee-owned structure - a important factor for boutique investment firms looking to preserve their culture and investment approach.
The partnership aligns with the broader trend of consolidation and strategic investments in the asset management industry, where scale and operational efficiency are increasingly important. For White Mountains Insurance Group (WTM), which owns Kudu, this adds another promising asset manager to their portfolio, potentially enhancing their recurring revenue streams.
Founded in 2000, RiverNorth manages
"In Kudu we have found a strategic partner that understands our boutique investment culture and shares our entrepreneurial spirit," Galley said. "Kudu has the capital, expertise, and global network to support our growth both organically and inorganically as we expand our closed-end fund platform and continue to generate superior long-term performance for our clients."
"RiverNorth has built a prominent franchise as a manager in niche capital markets segments and as a leading sponsor of closed-end funds. Our goal is to support the RiverNorth team as they execute their strategic growth plans," said Rob Jakacki, Kudu's CEO.
This represents
Seward & Kissel LLP was legal counsel and Colchester Partners LLC and Regions Securities LLC were financial advisors to RiverNorth. Seward & Kissel LLP also served as legal advisor to Kudu.
About RiverNorth Capital Management
RiverNorth Capital Management, LLC is an investment management firm founded in 2000. With
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 independent asset and wealth managers globally. Kudu was founded in 2015 and is backed by capital partners White Mountains Insurance Group, Ltd. (NYSE: WTM) and MassMutual. For more information, visit www.kuduinvestment.com.
Media Contacts for Kudu Investment Management
Margaret Kirch Cohen/Richard Chimberg
Newton Park PR
+1 847-507-2229
+1 617-312-4281
margaret@newtonparkpr.com
rich@newtonparkpr.com
Media Contact for RiverNorth Capital Management
Mo Shafroth
RF| Binder Partners
+1 720-470-3653
morrison.shafroth@rfbinder.com
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SOURCE Kudu Investment Management, LLC
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