Kudu Investment Management (Kudu), a New York-based independent provider of permanent capital solutions to asset and wealth managers worldwide, has made a strategic minority investment in EJF Capital, a global alternative asset management firm focused on regulatory event driven themes across the financial and real estate sectors.
Terms of the transaction have not been disclosed.
The investment by Kudu, a firm with a ‘passive, patient capital model’, will not impact the day-to-day operations of EJF, and the firm’s investment and decision-making processes will remain the same. EJF intends to use the proceeds as strategic growth capital to invest in its existing and future funds and securitisation vehicles.
“Kudu has significant experience investing in specialised investment managers and we welcome them as a long-term strategic partner,” says EJF co-founders Manny Friedman and Neal Wilson. “This investment provides EJF with permanent capital that will strengthen our business and bolster our ability to build and scale our global platform over time.”
“We are thrilled to support EJF, a firm distinguished by its talented team led by Manny and Neal, creative investment approach and strong track record of performance,” says Rob Jakacki, Kudu’s CEO. “Our investment will help EJF expand its global investment offerings and we look forward to a long-term relationship.”
EJF also announced that Neal Wilson, co-founder and chief operating officer, has been named the firm’s co-chief executive officer alongside Friedman.
“Neal and I launched EJF 14 years ago with the goal of creating a collaborative and collegial environment with a client-first approach. It gives me great pleasure that Neal is joining me as co-CEO. He is a true partner, visionary investor and natural leader. I am excited to work alongside Neal for years to come,” says Friedman.
In addition to EJF, Kudu’s valued partners include alternatives platform TIG Advisors; real assets investor Versus Capital; European alternative credit specialist Fair Oaks Capital; property fund manager Savanna; and wealth managers B|O|S and First Long Island Investors. These firms collectively manage approximately USD30 billion in AUM for institutional and individual investors worldwide.
Barclays Capital Inc. served as financial advisor and Fried Frank Harris Shriver & Jacobson LLP served as legal advisor to EJF. Seward & Kissel LLP served as legal advisor to Kudu.
