NEW YORK, March 4, 2019 /PRNewswire/ -- Kudu Investment Management, LLC, a provider of capital solutions to the asset and wealth management industries, today announced it has made a minority investment in leading real assets investment manager Versus Capital Advisors, LLC, and affiliated entities ("Versus Capital"). Terms of the agreement were not disclosed.
Greenwood Village, Colorado-based Versus Capital manages approximately $4 billion for investors in two primary strategies: the Versus Capital Multi-Manager Real Estate Income Fund (VCMIX) and the Versus Capital Real Assets Fund (VCRRX), the latter of which focuses on global infrastructure, timberland and agriculture. Versus is one of the fastest growing managers using interval fund structures, a type of continuously offered closed-end fund with set redemption periods, according to a January 2019 report on Interval Fund Tracker. Versus Capital's funds are utilized exclusively by independent registered investment advisors (RIAs), private banks, and regional consulting firms.
"Versus is an innovator in bringing less liquid, institutional-style investment exposure to retail investors, who have traditionally found it difficult to access such products," said Kudu Chairman and Managing Partner Charlie Ruffel. "The Versus team has demonstrated a compelling vision in developing this market and has been rewarded with the embrace of both investors and financial advisors in the RIA community. We are delighted to be entering into a long-term partnership with them."
"In order to further institutionalize our business, ensure the long-term independence of the firm, and invest more significantly in our strategies, we sought out a permanent capital partner with a perpetual structure," said Mark Quam, CEO of Versus Capital. "After an extensive process, we found a great fit with Kudu, given its experience and specialization with asset managers and RIAs."
Kudu will provide strategic advice as Versus Capital builds out its offerings and further expands its investor network into the RIA channel. Versus Capital management will continue to operate the business, and the Kudu investment will enable the firm's principals to further reinvest in their own strategies. Versus Capital represents Kudu's fifth investment since securing $250 million in new capital commitments from investors in February 2018.
Versus' legal advisors were Winston & Strawn, LLP, and Kudu's were Seward & Kissel, LLP.
About Kudu Investment Management, LLC
Kudu specializes in providing permanent capital solutions – including generational ownership transfers, management buyouts, acquisition and growth finance, as well as liquidity for legacy partners – to asset and wealth managers. Kudu was launched in 2015 and is backed by leading investors including White Mountains Insurance Group, Ltd., (NYSE: WTM). For more information, please visit: www.kuduinvestment.com
About Versus Capital Advisors, LLC
Versus Capital is a Greenwood Village, Colorado-based asset manager that specializes in bringing institutional-style real assets investments to investors via the RIA, private bank and consultant channels. Versus Capital looks to design and manage specialized investment strategies that have the potential to deliver valuable, diversifying streams of returns sourced primarily from real assets. For more information, please visit: www.versuscapital.com.
SOURCE Kudu Investment Management, LLC