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.

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“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.