Kudu Investment Management, a capital provider for asset and wealth management firms, made a minority investment in Creation Investments Capital Management, Kudu CEO Rob Jakacki said.
Terms of the deal, which closed Monday, were not disclosed.
Creation Investments is a Chicago-based private equity firm with $707 million in assets under management that specializes in impact investments. The firm provides private capital to support micro lending, small and medium enterprise credit and other financial services in developing markets where access to capital is limited. The firm is aligned with the United Nations Sustainable Development Goals.
"Creation Investments fits with what we're looking for in a manager," Mr. Jakacki said in a phone interview. "There's a clear, demonstrable value proposition coupled with a high quality, well-run organization with excellent leadership. It was great chemistry between our firms."
Creation Investments will "maintain complete autonomy," Mr. Jakacki said, and the firm's senior management team, led by founder and Managing Partner Patrick Fisher, will remain intact.
PL Advisors served as financial adviser, and Mayer Brown LLP served as legal adviser to Creation. Seward & Kissel LLP served as legal adviser to Kudu. White Mountain Insurance is Kudu's capital backer.