The management of Dallas-based boutique equity investment manager Ranger Investment Management (Ranger Investments) is taking a controlling stake in the business with backing from Kudu Investment Management.
Financial details regarding the deal were not shared.
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In exchange for the financial support, Kudu will have a passive, minority stake in the investment manager.
Ranger Capital Group earlier owned the controlling interest in Ranger Investments.
Commenting on the development, Kudu CEO Rob Jakacki said: “With a long-term capital commitment from Kudu, we believe a boutique firm like Ranger Investments can produce better outcomes for clients when it has full control of its own destiny.”
Founded in 2003, Ranger Investments caters to pension funds, endowments, foundations and family offices, among others.
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By GlobalDataIt oversees around $1.6bn in discretionary and $400m in non-discretionary assets.
Its product suite includes two mutual funds, namely Ranger Small Cap Fund and the Ranger Micro Cap Fund.
The firm’s strategies use a bottom-up, fundamental research process with the objective of preserving and growing capital.
The firm’s management committee includes CIO W. Conrad Doenges, president and portfolio manager Andrew Hill, managing director and portfolio manager Joseph LaBate, as well as director and sector manager Brown McCullough.
The firm has now struck a service agreement with Ranger Capital Group, under which its n key back office staff along with operations and administration will remain unchanged.
Doenges stated: “This transformative transaction consolidates our management team’s ownership of Ranger Investments and helps ensure long-term and multi-generational stability.
“Each investment team partner now owns a greater personal share in the firm, strengthening our alignment with and commitment to clients.”
Recently, Kudu also supported the management buyout of Australian investment manager Channel Capital.
