Kudu Investment Management has made a passive minority investment in RiverNorth Capital Management, an investment manager that specializes in opportunistic strategies and closed-end funds.
The investment will help support RiverNorth's growth, said a Dec. 4 news release.
Financial terms of the transaction were not disclosed.
Founded in 2000, RiverNorth manages $5.2 billion of assets in registered funds, private funds and separately managed accounts that seek to identify and profit from inefficiencies in niche markets, the release noted.
RiverNorth will remain majority employee-owned and controlled, while Patrick Galley will continue as its CEO and chief investment officer.
This transaction marks Kudu's 27th permanent capital investment, spanning asset and wealth managers across the U.S., Canada, U.K. and Australia.
Kudu's partner firms collectively invested approximately $123 billion, as of Sept. 30, 2024, on behalf of individual and institutional investors worldwide in traditional and alternative strategies and market segments.
