TORONTO and NEW YORK, Sept. 9,
2021 /PRNewswire/ -- Third Eye Capital (Third Eye), a
leading Canadian private credit firm, is partnering with Kudu
Investment Management, LLC (Kudu), an independent provider of
permanent capital solutions to asset and wealth managers
worldwide. Kudu is acquiring a minority stake in Third Eye and
its affiliates. Terms were not disclosed.
Through a unique combination of flexible capital and strategic
and operational insights, Third Eye empowers growing companies that
are underserved and underappreciated by other capital
sources. Founded in 2005 by Arif
Bhalwani and David Alexander,
Third Eye currently manages approximately C$2.8 billion for a diversified client base of
primarily Canadian institutional and high net worth investors.
"Kudu's investment allows us to enhance our already significant
alignment with clients and help us launch new funds in the evolving
Canadian private credit markets," said Bhalwani, Third Eye's CEO.
"With our strong track record of helping portfolio companies
successfully manage complex change events ranging from extreme
distress to hyper growth, Third Eye has become a preferred
alternative capital provider for Canadian management teams."
"We chose to partner with Kudu for several reasons, including
its permanent capital structure, shared vision, and a cultural
alignment that was clear from the moment we met," added Bhalwani.
"Kudu's preference for minority positions fully aligns with Third
Eye's growth ambitions, without altering our processes, timelines
or continued independence and majority employee ownership."
"There is so much to admire in Third Eye," said Rob Jakacki, CEO of Kudu. "Our mission has
always been to back extraordinary management teams and provide them
the capital and support for their growth. Third Eye has a
best-in-class team and a distinctive business model that gives it a
unique edge in the expanding alternative credit markets in
Canada. We are honored to partner
with them."
With the addition of Third Eye as its first investment in
Canada, Kudu now has investments
in 16 partner firms (including two managed for a third party)
domiciled in the U.S., Canada, the
U.K. and Australia.
Kudu-affiliated asset and wealth managers collectively invest
US$91 billion (C$115 billion) on behalf of individual and
institutional investors worldwide in traditional and alternative
strategies, as of June 30, 2021.
Founded in 2015, Kudu has more than US$650
million (C$823 million) in
capital commitments to date.
RBC Capital Markets served as financial advisor and Bennett Jones, LLP was legal counsel to Third
Eye. Osler, Hoskin & Harcourt,
LLP and Seward & Kissel LLP served as legal advisors to
Kudu.
About Third Eye Capital
Based in Toronto, Third Eye Capital is a leading
Canadian private credit firm providing tailored financing and
value-added operational expertise to its portfolio companies. Since
2005, Third Eye Capital has directly invested more than
C$3.5 billion in over 100 financings
for non-sponsored companies operating across a diverse set of
industries, including the sustainability sector, natural resources,
technology, financials, healthcare, media, food and hospitality,
transports and construction services. For more information, please
visit www.thirdeyecapital.com.
About Kudu Investment Management
Kudu provides
long-term capital solutions—including generational ownership
transfers, management buyouts, acquisition and growth finance, as
well as liquidity for legacy partners—to asset and wealth managers
globally. Kudu was founded in 2015 and is backed by capital partner
White Mountains Insurance Group, Ltd. (NYSE: WTM). For more
information, please visit Kudu's website.
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SOURCE Kudu Investment Management, LLC