GenTrust says it received a minority investment from capital provider Kudu Investment Management.
The company didn’t disclose the financial terms of the deal but said it was a “minority passive interest.”
Established in 2011, GenTrust now has 33 employees overseeing around $3 billion for ultra high net worth families, institutions and other registered investment advisors from offices in Miami, New York and San Juan, Puerto Rico, according to the firm.
“Kudu recognizes that the institutional-quality investment expertise we deliver to these clients has broad appeal and differentiates us in this hypercompetitive industry,” Jim Besaw, GenTrust founding principal and chief investment officer said in the announcement.
Founded in 2015, Kudu is backed by more than $800 million in equity and debt capital from White Mountains Insurance Group and MassMutual, GenTrust says.
In all, since 2018 Kudu has made minority investments in 19 asset and wealth managers across the U.S., Canada, the U.K. and Australia, according to GenTrust.
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