Kudu Investment Management has acquired a minority stake in Sage Advisory Services, an investment manager with more than $23 billion in client assets under management and advisement.
Financial terms of the transaction were not disclosed, said a Dec. 13 news release.
Sage remains majority-owned and operated by employees.
Founded in 1996, the Austin, Texas-based Sage manages fixed-income and global asset allocation strategies The firm's investment strategies include taxable and tax-exempt fixed-income, liability-driven investing, enhanced cash management, global tactical ETF asset allocation, and responsible investing, the news release said.
In 1998, Sage became one of the first institutional investment firms to actively employ ETFs within its strategies.
Sage continues to be led by Robert G. Smith III, president, managing partner and co-CIO; Thomas Urano, managing partner and co-CIO; Robert Williams, managing partner and chief investment strategist; Michael Walton, managing partner, consultant and client relations; and Robert Moser, managing partner and national sales director.
Kudu-affiliated asset and wealth managers collectively invested about $115 billion as of Sept. 30, on behalf of individual and institutional investors worldwide in traditional and alternative strategies and market segments, the release added.
