NEW YORK and LONDON, July 25, 2023 /PRNewswire/ — Apera Asset Management LLP (Apera), a U.K.-based pan-European private debt manager in the mid-market space, 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 Apera through an Apera affiliate. The firms are not disclosing financial terms.
Established in 2016, Apera 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. To date, funds managed and advised by Apera have made 60 investments in companies, mostly in the information technology, healthcare, consumer discretionary, and financial sectors.
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. Apera will use Kudu’s investment to accelerate the growth of its 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,” Petersen said. “Kudu emerged as our preferred strategic partner when we began exploring paths to accelerate Apera’s growth initiatives and to diversify our client base. We value Kudu’s combination of flexible capital, broad industry knowledge, and global reach.”
Apera is Kudu’s third partnership in the U.K. and Europe. In 2018, Kudu invested in Fair Oaks Capital, a London-based alternative credit manager. In 2019, Kudu invested in London-based Warwick Capital Partners, a global special situations manager.
“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,” said Rob Jakacki, Kudu CEO. “We’re delighted to partner with Klaus, David, Robert and the team to support Apera’s continued growth.”
Since it was founded in 2015, New York-based Kudu 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. Kudu’s capital partners are White Mountains Insurance Group, Ltd., Massachusetts Mutual Life Insurance Company (MassMutual), and Martello Re.
Debevoise & Plimpton LLP was legal counsel to Apera. Stephenson Harwood LLP served as legal advisor to Kudu.
About Apera Asset Management LLP
Established in 2016, Apera is a UK-based sponsor of funds acting as a pan-European middle-market private credit investor. It operates in the U.K., the DACH (Germany, Austria, Switzerland) region, the Nordic region, France and Benelux. The firm develops long-term partnerships with private equity investors, SME (small and midsize enterprise) borrowers, and advisors by providing tailored financial solutions that meet both the operational needs and growth objectives of clients, while seeking to produce superior returns. Apera is focused on bringing a new standard of transparency to the private debt market. For more information, visit www.apera-am.com and Apera Asset Management on LinkedIn.
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 backed by capital partners White Mountains Insurance Group, Ltd. (NYSE: WTM), MassMutual, and Martello Re. For more information, visit www.kuduinvestment.com and Kudu Investment Management on LinkedIn.