By Chris Glynn
Massachusetts Mutual Life
Insurance Company has invested in serial private wealth manager business investor
Kudu Investment Management, according to a press statement.
MassMutual did not reveal what the
ownership in Kudu cost. MassMutual is a $565 billion mutual fund and life insurance
company.
A private investment organization,
Kudu had raised capital from MassMutual, gaining a $350 million credit service from
the Springfield, Mass., insurance company in 2021.
Kudu, headquartered in New York,
raised $800 million in debt and equity for 17 investment management and private
wealth businesses in Australia, Canada, U.K. and the U.S.
The Kudu partnership affiliate
program—managing $65 billion—has included Channel Capital, EJF
Capital, Granahan Investment Management and Radcliff Capital
Management, to name a few.
In September, Kudu made its fourth
registered investment advisor (RIA) purchase, gaining a minority stake in $5
billion New York RIA Douglass Winthrop Advisors. In 2020, Kudu bought part
of $10 billion Sequoia Financial Group in Akron, Ohio.
As equity manager, MassMutual
joined White Mountain Insurance Group, which invested in Kudu during its
launch in 2018.
