Kudu Investment Management, which offers capital solutions to asset and wealth managers, has made a strategic investment in Sequoia Financial Group.
Financial details on the deal were not divulged.
Kudu CEO Rob Jakacki said: “We were attracted to the quality of leadership and focus on investor outcomes at Sequoia and are thrilled to be partnering with them.”
Majority-owned by employees, Sequoia offers financial planning, asset management, family wealth and retirement planning services. The firm was set up in 1991.
The firm has operations in Florida, Michigan, and Ohio and a workforce of 88.
In comparison, Kudu is a much newer firm established in 2015.
The firm recently made a minority investment in impact investing manager Creation Investments Capital Management.
At March-end 2020, the firm had 13 partner firms collectively investing $57bn on behalf of individual and institutional investors in traditional and alternative strategies.
Sequoia founder, president and CEO Tom Haught said: “In our pursuit of building an enduring firm, we are creating generational capital that will strengthen us now and offer durability and continuity for the future.
“Kudu’s investment will help accelerate our U.S. expansion plans and support our mission, which is to be our clients’ most trusted adviser.”