Today, Apera Asset Management LLP (Apera) and Kudu Investment Management, LLC (Kudu) announced that Kudu has made a minority investment in Apera through an Apera affiliate. Financial terms of the deal were not disclosed.
Apera is a U.K.-based pan-European private debt manager in the mid-market space, established in 2016. The firm specializes in providing private debt solutions to middle-market businesses, primarily in the U.K., Germany, Austria, Switzerland, France, Benelux, and the Nordic region. Apera manages more than €2.6 billion, or US$2.9 billion, in assets on behalf of institutional investors in Europe, Canada, and the United States.
Kudu's investment will be used to accelerate the growth of Apera's business, among other internal uses. "The environment in Europe is receptive to credit solutions like Apera's, and long-term prospects for European credit funds are highly promising," said Apera founding partner Klaus Petersen. "Kudu emerged as our preferred strategic partner when we began exploring paths to accelerate Apera's growth initiatives and to diversify our client base."
Rob Jakacki, Kudu CEO, added, "Apera has built a well-positioned private credit platform in the U.K. and Europe with a talented team and a first-class operations profile. We're delighted to partner with Klaus, David, Robert and the team to support Apera's continued growth."
Kudu, founded in 2015 and backed by capital partners White Mountains Insurance Group, Ltd., Massachusetts Mutual Life Insurance Company (MassMutual), and Martello Re, has invested in 25 asset and wealth managers located in the U.S., Canada, U.K., Europe, and Australia. Kudu-affiliated asset and wealth managers now collectively invest approximately $94 billion, on behalf of individual and institutional investors worldwide in traditional and alternative strategies and market segments.
Apera remains majority partner-owned and led by founding partners Klaus Petersen, David Wilmot and Robert Shaw. Apera and its affiliates have 38 employees in London, Munich, Paris and Luxembourg. Debevoise & Plimpton LLP was legal counsel to Apera and Stephenson Harwood LLP served as legal advisor to Kudu.
