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MassMutual Provides $300MM Credit Facility to Kudu Investment Management

April 01, 2021, 07:25 AM
Filed Under: Specialty Industries

Kudu Investment Management closed 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., 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."

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