Kudu Investment Buys Stake in Canadian Private Lender Third Eye

(Bloomberg) -- Kudu Investment Management is expanding its push in asset and wealth management to Canada’s private lending market.

Kudu purchased an undisclosed minority stake in Third Eye Capital, the two firms said in a statement Thursday. Its first such deal in Canada gives Kudu investments in 16 firms across Canada, the U.S., the U.K. and Australia. 

“We chose to partner with Kudu for several reasons, including its permanent capital structure, shared vision, and a cultural alignment that was clear from the moment we met,” Third Eye’s co-founder and chief executive officer Arif Bhalwani said in the statement. “Kudu’s preference for minority positions fully aligns with Third Eye’s growth ambitions, without altering our processes, timelines or continued independence and majority employee ownership.”

Founded in 2005 by Bhalwani and David Alexander, Third Eye manages approximately C$2.8 billion ($2.2 billion) for Canadian institutional and high net worth investors. It specializes in providing credit to businesses undergoing change or special situations. 

Kudu-affiliated asset and wealth managers invest $91 billion for individual and institutional investors in traditional and alternative strategies.

Kudu’s investment will help Third Eye launch new funds in the evolving Canadian private credit market, Bhalwani said.

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