Sun, May 20, 2018
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. News Briefs - Warren Buffett: Target date funds aren't the way to go, Cambridge Analytica could be reborn under a different name[more]

    Warren Buffett: Target date funds aren't the way to go Planning for retirement can be complicated and stressful. This is why target date funds - funds that are managed based on when you expect to retire - are so attractive. Over time, the balance of stocks, bonds and cash evolve automati

  2. Investing - Hedge funds hike Smurfit Kappa positions amid takeover deal hopes, Hedge fund IBV Capital digs deep to unlock long-term value in a competitive market, Eisman of 'The Big Short' fame recommends shorting Deutsche Bank[more]

    Hedge funds hike Smurfit Kappa positions amid takeover deal hopes From Irishtimes.com: Two US hedge funds, Davidson Kempner and York Capital, have accumulated a combined 4.74 per cent interest in cardboard box maker Smurfit Kappa using financial derivatives. It comes as many investors cl

  3. Foundations of hedge fund managers gave big to controversial donor-advised funds[more]

    In the world of philanthropy and tax-deductible charitable giving, the explosion of donor-advised funds has touched off intense debate. Now, there is evidence that the DAF boom is being further fuelled by hedge fund foundation money. Four of the top five foundations that gave the most to large do

  4. Study: For hedge funds, smaller is better[more]

    From Institutionalinvestor.com: The smaller the hedge fund is, the better its performance is likely to be, according to a new study. The study - "Size, Age, and the Performance Life Cycle of Hedge Funds," released April 26 - sought to determine whether a hedge fund's size and age had any effect on i

  5. Hedge fund returns rose in April for first gain since January[more]

    From Bloomberg.com: Bloomberg Hedge Fund Database shows returns flat this year - Currency strategies had the biggest monthly gain at 13% Hedge fund returns increased 0.78 percent in April, reversing two consecutive monthly declines. The swing of 134 basis points was driven by gains in all seven