Kudu Investment Management acquired a minority stake in Martis Capital Management, a private equity firm that focuses on health-care companies.
Financial terms of the deal were not disclosed, said a news release Wednesday.
A Kudu spokesman declined to disclose the percentage of the ownership stake.
Martis Capital's managing partners Barry Uphoff, Mario Moreno and Owen Davis will continue to lead the employee-owned and controlled firm, the news release said.
Based in San Francisco and Washington, Martis Capital invests in buyout and growth equity opportunities in middle-market North American health-care companies, the release added.
Since 2011, Martis Capital has raised almost $2.2 billion globally from a group of institutional investors and family offices, strategic partners, and health-care entrepreneurs.
Martis Capital closed its fourth fund, Martis Partners IV, on June 6, with about $779 million in capital commitments, well above its target of $700 million, the release noted.
Kudu-affiliated asset and wealth managers have collectively invested about $74 billion, as of March 31, on behalf of individual and institutional investors worldwide in traditional and alternative strategies and market segments.