NEW YORK and BALA CYNWYD, Pa., Jan.
10, 2022 /PRNewswire/ -- Radcliffe Capital Management, L.P.
(Radcliffe), an
SEC-registered investment adviser specializing in defensive
credit and opportunistic strategies, and Kudu Investment
Management, LLC (Kudu), an independent provider of permanent
capital solutions to asset and wealth managers worldwide, today
announced that Kudu has acquired a minority stake in Radcliffe and its affiliates. Financial terms were
not disclosed.
Based near Philadelphia in
Bala Cynwyd, Pennsylvania,
Radcliffe was founded in 1996.
Steve Katznelson, CFA, founding
partner and chief investment officer, and Christopher Hinkel, director of research, are
principals of the firm, which manages more than $3.5 billion for institutional and high net worth
clients globally.
Radcliffe's strategies include short
and ultra-short duration bond, Business Development Company (BDC)
bond, and Special Purpose Acquisition Company (SPAC) portfolios—all
defensive investment vehicles that seek both attractive returns and
principal protection.
"We are excited to partner with Kudu, a provider of passive and
permanent capital with an excellent reputation and impressive
portfolio of partner firms," said Katznelson. "Radcliffe has a strong global client base and
specialized strategies. Kudu's global perspective and support will
help us prudently expand our reach to institutions and
high-net-worth families."
"Our investment in Radcliffe
represents a terrific opportunity to diversify our portfolio," said
Rob Jakacki, CEO of Kudu. "We have
long admired Radcliffe's management
team, distinct defensive investment philosophy, proven track record
of performance, and focus on measured growth."
Kudu now has made investments in 19 asset and wealth management
partner firms domiciled in the U.S., Canada, the U.K. and Australia, two of which are currently or
previously managed for a third party. Kudu-affiliated asset and
wealth managers collectively invest US$84
billion on behalf of individual and institutional investors
worldwide in traditional and alternative strategies, as of
Sept. 30, 2021. Founded in 2015, Kudu
has more than US$650 million in
capital commitments to date.
Piper Sandler & Co. served as
financial advisor and Dechert LLP was legal counsel to Radcliffe. Seward & Kissel LLP served as legal
advisor to Kudu.
About Radcliffe Capital Management
Radcliffe Group,
Inc. was founded in 1996. Radcliffe Capital Management, LP is an
SEC registered investment adviser that manages more than
$3.5 billion across defensive credit
and opportunistic strategies. Its clients include a cross section
of institutions and high-net-worth individuals.
For 25 years, Radcliffe has evolved
its team, models, systems, and risk controls to successfully invest
in niche strategies by capitalizing on persistent and explainable
structural market inefficiencies, where the principals of the firm
want to heavily invest themselves. For more information, visit
Radcliffe's website.
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 Kudu's website.
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SOURCE Kudu Investment Management, LLC