Kudu Investment Management Takes a Stake in Martis Capital Management
Posted on 06/21/2023
Kudu Investment Management, LLC acquired a minority stake in Martis Capital Management, LLC (Martis Capital), a healthcare-focused private equity firm. Martis Capital, based in San Francisco and Washington, DC, is a founder-friendly capital partner for healthcare companies. Managing partners Barry Uphoff, Mario Moreno, and Owen Davis will continue to lead the employee-owned and controlled firm. Kudu was founded in 2015 and is backed by capital partners White Mountains Insurance Group, Ltd. (NYSE: WTM), MassMutual, and Martello Re.
Since 2011, Martis Capital has raised nearly US$ 2.2 billion globally from a diverse group of institutional investors and family offices, strategic partners, and healthcare entrepreneurs. It seeks to consistently invest in growing middle-market companies across targeted segments of the North American healthcare sector. The firm closed its fourth fund, Martis Partners IV, LP, on June 6, 2023, with approximately US$ 779 million in capital commitments.
Martis Capital invests in buyout and growth equity opportunities in middle-market companies that provide innovative and cost-effective products and services within the services and outsourcing, information technology, and consumer and wellness subsectors of the North American healthcare industry.
Advisors
Kirkland & Ellis LLP was legal counsel and Houlihan Lokey, Inc. was financial advisor to Martis Capital. Seward & Kissel LLP served as legal advisor to Kudu.
