NEWS

MassMutual Buys Into RIA Investor Kadu

By Chris Glynn

 

Massachusetts Mutual Life Insurance Company has invested in serial private wealth manager business investor Kudu Asset 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.