AUSTIN,
Texas and NEW YORK,
Dec. 13,
2023 /PRNewswire/ -- Sage Advisory Services, Ltd.
(Sage), an investment manager with more than $23 billion in client assets under management and
advisement, primarily in fixed income strategies, and Kudu
Investment Management, LLC (Kudu), a provider of permanent capital
solutions to independent asset and wealth managers, today announced
that Kudu has made a minority investment in Sage. Financial terms
were not disclosed.
Based in Austin, Texas, Sage
manages fixed income and global asset allocation strategies,
structuring portfolios to meet the needs of institutional and
individual investor clients. Sage's investment strategies include
taxable and tax-exempt fixed income, liability-driven investing,
enhanced cash management, global tactical ETF asset allocation, and
responsible investing. Founded in 1996 by Robert G. Smith III, president and co-CIO, and
partners, Sage was an early proponent of liability-driven investing
and in 1998 became one of the first institutional investment firms
to actively employ ETFs within its strategies.
Sage continues to be led by executive committee members Smith;
Thomas Urano, co-CIO; Robert Williams, chief investment strategist;
Michael Walton, managing partner;
and Robert Moser, managing partner.
The firm has 56 employees and remains majority-owned and operated
by employees, with Kudu as a minority capital investor.
"In Kudu we have found a strategic partner to sustain the next
chapter of Sage's growth and development," Smith said. "In seeking
a partner, it was important for us to preserve our unique culture,
maintain management control, and further develop the talents of the
next generation of leadership."
In the last five years, total client assets under management and
advisement at Sage have risen more than 50%. Sage has seen
continued growth in 2023, with new and existing clients adding more
than $4.5 billion in assets across
the firm's strategies. Going forward, Smith said Sage is exploring
natural extensions of its core competencies within the fixed income
landscape and is working to help clients solve what he calls "the
retirement income riddle" with decumulation strategies.
"Bob and his executive team have built a an exceptionally
innovative and agile investment platform that produces exemplary
outcomes for clients," said Rob
Jakacki, Kudu's CEO. "Sage is that rare firm that balances
vision with execution, as demonstrated by its host of cutting-edge
investment solutions, impressive client roster, and history of
being ahead of the curve on critical issues like responsible
investing."
Since it was founded in 2015, New York-based Kudu has
invested in 26 asset and wealth managers located in the
U.S., Canada, U.K., continental Europe, and Australia. Kudu-affiliated
asset and wealth managers now collectively invest
approximately $115 billion as of Sept. 30, 2023, on
behalf of individual and institutional investors worldwide in
traditional and alternative strategies and market segments. Kudu's
capital partners are White Mountains Insurance Group, Ltd.,
Massachusetts Mutual Life Insurance Company (MassMutual), and
Martello Re.
Dwyer Murphy Calvert LLP was legal counsel and PL Advisors was
financial advisor to Sage. Seward & Kissel LLP served as legal
advisor to Kudu.
About Sage Advisory
Founded in 1996 and based in
Austin, Texas, Sage is a majority
employee-owned manager serving institutions and individuals with
customized fixed income and global asset allocation strategies. As
of Nov. 30, 2023, Sage manages and
advises on approximately $23.6
billion in client assets. For more information, visit
www.sageadvisory.com.
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 independent asset and
wealth managers globally. Kudu was founded in 2015 and is partnered
with White Mountains Insurance Group, Ltd. (NYSE: WTM),
MassMutual and Martello Re. For more
information, visit www.kuduinvestment.com.
Media Contacts
For Sage Advisory
Chris
Sullivan
Craft & Capital
chris@craftandcapital.com
For Kudu Investment Management
Margaret Kirch Cohen/Richard Chimberg
Newton Park PR
+1 847-507-2229
+1 617-312-4281
margaret@newtonparkpr.com
rich@newtonparkpr.com
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SOURCE Kudu Investment Management, LLC
