US-based Kudu Investment Management has purchased a minority passive stake in investment advisor GenTrust for an undisclosed sum.
The company has not disclosed the terms and conditions of the deal.
Established in 2011, GenTrust is an employee-owned investment adviser that offers tailor-made investment and wealth advisory services to ultra-high-net-worth (UHNW) families, institutions, as well as registered investment advisers across the world.
GenTrust and its affiliates are said to have managed around $3bn of assets.
It employs 33 staff and has branches in Miami, New York, and San Juan in the US.
GenTrust founding principal and chief investment officer Jim Besaw said: “Kudu is our ideal partner. They immediately understood our dedication to providing best-in-class investment management to our clients. We’re thrilled to have their support.
“GenTrust started out providing investment advice to hedge fund principals and expanded to serve other sophisticated investors.
“Kudu recognises that the institutional-quality investment expertise we deliver to these clients has broad appeal and differentiates us in this hypercompetitive industry.”
Since 2018, Kudu has bought minority stakes in a total of 19 asset and wealth managers based in the US, Canada, the UK, and Australia.
Affiliates of the company have altogether invested over $70bn for global individual and institutional investors in conventional and alternative approaches and markets, said Kudu.
So far, Kudu has secured over $800m in equity and debt fund from White Mountains Insurance Group and Massachusetts Mutual Life Insurance Company (MassMutual).
Last month, Kudu announced the acquisition of a minority stake in Greenwich-based emerging markets investment company Gramercy Funds Management.
