Wed, May 4, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Oakum Bay Capital receives strategic minority investment from White Mountains

Tuesday, July 24, 2012
Opalesque Industry Update: Oakum Bay Capital, a New York-based alternative investment firm formerly known as KVO Capital Management, today announced that it has agreed in principle to a strategic minority investment by White Mountains Insurance Group (NYSE: WTM). This investment will allow Oakum Bay to accelerate its strategic plan of adding key personnel and upgrading its infrastructure to better serve its investors. White Mountains also will make an investment in the Oakum Bay funds, making them one of the largest investors. The size and terms of the minority investment were not disclosed.

As part of the agreement, Oakum Bay Capital Chairman, Kernan “Kip” Oberting, will rejoin White Mountains where he worked from 1995 to 2004. Oberting will serve as a senior partner at White Mountains, overseeing the Oakum Bay investment and pursuing strategic opportunities for White Mountains. He also will retain his role as Chairman of Oakum Bay.

Brooke S. Parish, President and Chief Executive Officer of Oakum Bay Capital, said, “Securing a strategic relationship with a prominent financial firm like White Mountains is a significant step in Oakum Bay’s efforts to attract institutional investors and build an enduring, high-quality investment firm. I look forward to White Mountains’ continued support and to ongoing, close collaboration with Kip in his role as Chairman of our firm.”

White Mountains Chief Executive Officer Ray Barrette said, “White Mountains has a long history of investing in boutique investment firms. Through our relationship with Oakum Bay, we are aligning ourselves with a group of investment professionals whom we hold in high regard.”

Oberting added, “White Mountains’ institutional sponsorship and investment as a limited partner will allow the Oakum Bay investment team to take advantage of opportunities in the marketplace. My role at White Mountains also will allow me to continue to contribute to Oakum Bay’s success.”

White Mountains

Press Release

BM

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Hedge funds see $14.3bn outflows in Q1, CTAs and multi-strategy lead net inflows[more]

    Komfie Manalo, Opalesque Asia: The hedge fund industry saw net outflows of investor capital in the first quarter of the year, totaling $14.3bn, data from Preqin showed. This continues from the $8.9bn overall net outflows that funds recorded in Q4

  2. Third Point calls Q1 "catastrophic" for hedge funds[more]

    Bailey McCann, Opalesque New York: The first quarter of this year was rocky for hedge funds based on aggregate performance from the industry, but now we are beginning to hear what the managers thought of it as quarterly letters make their way to investors. Dan Loeb, CEO of New York-based $17 bill

  3. Asia - Stabilization of China's capital outflows may hinge on Janet Yellen, Fink says China to do well this year as bubble threat postponed, Chinese hedge fund to invest in India’s infrastructure[more]

    Stabilization of China's capital outflows may hinge on Janet Yellen From Bloomberg.com: Whether China’s recent stabilization of its currency and capital outflows continues -- or downside pressure reignites -- may hinge in large part on Janet Yellen. If the Federal Reserve chair sticks to

  4. …And Finally - After all, judges are human too[more]

    From Newsoftheweird.com: In March, one District of Columbia government administrative law judge was charged with misdemeanor assault on another. Judge Sharon Goodie said she wanted to give Judge Joan Davenport some files, but Davenport, in her office, would not answer the door. Goodie said once the

  5. Comment - Unmasking the men behind Zero Hedge, Wall Street's renegade blog[more]

    From Bloomberg.com: Colin Lokey, also known as "Tyler Durden," is breaking the first rule of Fight Club: You do not talk about Fight Club. He’s also breaking the second rule of Fight Club. (See the first rule.) After more than a year writing for the financial website Zero Hedge under the n