Kudu has acquired a minority stake in Melbourne-based Drummond Capital Partners, a boutique investment portfolio manager with A$6.6 billion in funds under management and a further $3.4 billion committed. Founded nine years ago, Drummond offers tailored investment portfolios to financial advisers across Australia.
Kudu has also taken a minority stake in AFPG, an established wealth management firm serving clients across Australia. Based in Sydney, the firm manages in excess of A$3 billion for its clients. The investment will support AFPG's continued growth, including expanding its adviser base and pursuing strategic acquisitions.
Kudu is a New York based, global investment firm that provides permanent capital minority investment solutions to independent asset and wealth managers. Founded in 2015, Kudu is backed by large institutional investors, including White Mountains Insurance Group, Ltd. and MassMutual.
The transactions were led by Joseph Pace (Partner, M&A/Capital Markets) and Esmond Prowse (Partner, M&A/Capital Markets), with support from across the firm's specialist practices.
