Kudu Investment Management, an investor in independent asset and investment advisory firms, has taken a minority stake in GenTrust, an employee-owned registered investment adviser based in Miami.
Terms of the deal were not disclosed, but the additional funds will go to bolstering GenTrust’s talent pool and in-house capabilities, according to the firm.
“No change in terms of strategic focus, whatsoever,” said Jim Besaw, founding principal and chief investment officer at GenTrust. “A lot of it is going to be just building on the strengths that we’ve developed over the last 10 years.”
Founded in 2011 by former wirehouse advisors and hedge fund managers, GenTrust initially focused on providing wealth management services to other hedge fund managers, athletes and entertainers, ultimately expanding to include asset management services, a registered investment advisory arm and, more recently, a platform technology offering for other RIAs.
GenTrust and its affiliates now manage approximately $3 billion in client assets, with 33 employees across offices in Miami, New York, and San Juan, Puerto Rico.
“Kudu recognizes that the institutional-quality investment expertise we deliver to these clients has broad appeal and differentiates us in this hypercompetitive industry,” said Besaw, who explained that the partnership developed naturally after the firms met through a mutual business associate in which Kudu previously invested. “There may have been a bit of matchmaking,” he said. “But it was really a mutual thing.”
“GenTrust has a distinct and innovative approach to investment management,” said Kudu Managing Partner Charlie Ruffel. “We saw the opportunity to invest alongside the GenTrust team and support its continued growth as utterly compelling.”
Since 2018, New York-based Kudu has acquired minority stakes in 19 asset and wealth managers headquartered in the U.S., Canada, U.K., and Australia, including RIAs Sequoia Financial and Douglas Winthrop Advisors. Kudu-affiliated asset and wealth managers now collectively invest more than $70 billion on behalf of individual and institutional investors worldwide in traditional and alternative strategies and market segments, according to the firm.
The firm has raised more than $800 million in equity and debt capital from White Mountains Insurance Group and Massachusetts Mutual Life Insurance Company (MassMutual).
“We’re thrilled to have their support,” said Besaw, calling Kudu “our ideal partner.”
“Having the capital to be able to grow and to add staff as this massive trend of leaving wirehouses continues to accelerate is a really important feature for a firm of our size,” he said. “It’s really just about having the ability to grow as the opportunities come up.”
Seward & Kissel served as legal adviser to both GenTrust and Kudu.
Take a look at our comprehensive guide to the best and most popular information ebooks and products available today on Detoxing, Colon Cleansing, Weight Loss and Dating and Romance. They are all in one spot, easy to find and compere to make a quick selection for the product that best fits your needs or wants.
So browse through a category and make your preferred selection and come back here to read more choice articles and get a few more helpful tips on ways to help your enhancement.
As an Amazon Associate I earn from qualifying purchases. “saubiosaubiosuccess.com is a participant in third party affiliate and advertising programs; The Amazon Services LLC Associates Program, Awin network, and other affiliate advertising programs are designed to provide a means for sites to earn advertising fees and commissions by advertising and linking to products on other sites and on Amazon.com. Amazon and the Amazon logo are trademarks of Amazon.com, Inc, or its affiliates.”
We use anonymous cookies and various 3rd-party services to optimise and to offer you a better, more personalised, browsing experience with advanced accessibility enhancements.
Dismiss
Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
