MassMutual closed a $300 million credit facility for Kudu Investment Management, a provider of permanent capital solutions to asset and wealth managers.
Kudu Investment Management is based in New York and backed by capital partner White Mountains Insurance Group. The firm has deployed nearly $400 million since 2018, acquiring minority stakes in 13 asset and wealth managers. 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,” Phillip Titolo, head of direct private investments at MassMutual, said. “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,” Rob Jakacki, CEO of Kudu Investment Management, said. “MassMutual is an experienced and successful investor in the asset management industry and it’s gratifying to have the firm as a financial backer.”
