Kudu Investment Management is acquiring a minority stake in Third Eye Capital and its affiliates.
Terms of the deal were not disclosed.
Third Eye is a Toronto-based private credit firm with about C$2.8 billion ($2.2 billion) in assets under management. Third Eye is Kudu's first Canada-based investment.
"Kudu's investment allows us to enhance our already significant alignment with clients and help us launch new funds in the evolving Canadian private credit markets," said Arif Bhalwani, co-founder and CEO of Third Eye, in a news release. "Kudu's preference for minority positions fully aligns with Third Eye's growth ambitions, without altering our processes, timelines or continued independence and majority employee ownership."
With the addition of Third Eye, Kudu is now invested in 16 firms.
RBC Capital Markets served as financial adviser to Third Eye, and Bennett Jones was legal adviser. Osler Hoskin & Harcourt and Seward & Kissel served as legal advisers to Kudu.
