NEW YORK, Sept. 15, 2021 /PRNewswire/ -- Douglass Winthrop
Advisors, LLC (DWA), an SEC-registered investment advisor managing
more than $4.8 billion in assets, is
partnering with Kudu Investment Management, LLC (Kudu), an
independent provider of permanent capital solutions to asset and
wealth managers worldwide. Under terms of an agreement reached
on Sept. 13, Kudu has acquired a
minority stake in DWA. Financial terms were not disclosed.
Founded in 2000, DWA has 32 employees and offices in
New York, Boston, Washington,
D.C., and West Palm Beach. The firm provides investment
advisory and wealth management services for high net worth clients,
with a focus on multi-generational families and trusts. DWA also
has a growing roster of institutional clients.
"Partnering with Kudu ensures DWA can remain independent, with
access to growth capital and a strategy for long-term continuity in
leadership," said Jay Winthrop, DWA
co-founder and managing principal. "Kudu and DWA have a shared
belief that independent, trusted financial advice is increasingly
in demand by sophisticated investors and their families."
"We are pleased to welcome Kudu as a partner," said Lea Paine Highet, managing principal of DWA.
"The permanent capital the firm is providing will reinforce our
commitment to serve as our clients' trusted advisor for years to
come."
"We are delighted to make this investment in Douglass Winthrop," said Rob Jakacki, CEO of Kudu. "DWA's client-centric,
premium service culture is the key to its success. Providing DWA
the financial freedom to maintain this approach is our focus, and
we look forward to supporting its entire team as the firm continues
to grow."
Founded in 2015, Kudu now has 17 partner firms, including two
managed for a third party, that collectively invest approximately
$96 billion on behalf of individual
and institutional investors worldwide in traditional and
alternative strategies, as of June 30,
2021. Kudu has more than $650
million in capital commitments to date.
Berkshire Global Advisors, LP served as financial advisor and
Dechert LLP was the legal counsel to DWA. Seward & Kissel LLP
served as legal advisor to Kudu.
About Douglass Winthrop Advisors, LLC
Douglass
Winthrop Advisors is a New York
City-based SEC-registered investment advisor. The firm
manages more than $4.8 billion for
individuals, families, trusts, endowments and institutions. It is
majority owned by its principals. For more information, visit
https://www.douglasswinthrop.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, visit https://www.kuduinvestment.com/.
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SOURCE Kudu Investment Management, LLC