Mon, May 30, 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. Performance - Hedge fund ETFs take a battering, Have long-short credit funds delivered?[more]

    Hedge fund ETFs take a battering From ETFStrategy.co.uk: It was a blow for the hedge fund world when Hillary Clinton’s son-in-law Marc Mezvinsky announced he would be closing his Greek-focused fund after it plummeted in value by 90%, just two years after it launched. For passive investor

  2. Ares Capital to buy American Capital in $3.4 billion deal[more]

    From PIOnline.com: Ares Management's business development company Ares Capital Corp. is buying troubled BDC American Capital for $3.43 billion, said a joint news release by the BDCs and another release by Ares Management. Ares Capital Corp.'s assets are expected to grow to about $13.2 billion when t

  3. Launches - Man Group and American Beacon launch new emerging debt fund, Nikko AM launches new Japan equity UCITS fund[more]

    Man Group and American Beacon launch new emerging debt fund American Beacon Advisors, an experienced provider of investment advisory services to institutional and retail markets, launched the American Beacon GLG Total Return Fund today. The Fund became effective May 20. The America

  4. Emerging markets hedge funds perform strongly, but capital base erodes[more]

    Komfie Manalo, Opalesque Asia: Latin American Emerging Markets and Russian hedge funds lead industry gains in the first months of 2016, posting strong performances through April as global and EM equity, commodity and currency markets surged in recent weeks following steep losses to begin the year

  5. Americas - Australian banks sending U.S. hedge funds broke, Ryan Puerto Rico ‘rescue’ bill could be windfall for hedge funds[more]

    Australian banks sending U.S. hedge funds broke From SMH.com.au: US hedge funds are not having the best of years. Profits are hard to find, they're underperforming and the punters are losing patience, withdrawing US$15 billion ($20.8 billion) in the March quarter. They're expected to wit