Massachusetts Mutual Life Insurance has become an equity investor in Kudu Investment Management.
The insurer has joined White Mountains Insurance Group as an equity investor in the firm, a spokesman for Kudu said in an email. MassMutual and Kudu Investment Management are not disclosing terms of the deal.
To date, Kudu Investment Management has raised more than $800 million in equity and debt capital. In 2021, Kudu Investment Management had closed a $350 million credit facility with MassMutual.
Kudu Investment Management provides capital to money managers and wealth managers. Since 2018, the firm has made minority investments in 17 asset and wealth management firms that collectively have $65 billion in assets under management.
Among those firms are small-cap equities investment boutique Granahan Investment Management, wealth manager Douglass Winthrop Advisors and Canadian manager Third Eye Capital and its affiliates.
