Tue, Sep 27, 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. Star names struggle as smaller hedge funds make hay[more]

    From eFinancialnews.com: Many big-name funds have been hit by sharp reversals in markets, including US government bonds and UK stocks, and have struggled to extricate themselves from positions that have gone bad. According to data group eVestment, hedge funds below $250 million in size are up 4.1% t

  2. North America - Acela fight splits hedge fund Connecticut and old money enclaves[more]

    From Bloomberg.com: Connecticut’s residential coastline is two worlds, the one of newcomer millionaires and one whose wealth and New England roots span generations. Now, their differences over a rail route threaten to gum up plans for the U.S. Northeast’s fastest-ever trains. About 30 miles from Man

  3. Activist News - Caesars offers creditors another $1.6bn, would spell end of hedge fund ownership, Activist investors double chance of CEO exits[more]

    Caesars offers creditors another $1.6bn, would spell end of hedge fund ownership From Calvinayre.com: Casino operator Caesars Entertainment has improved its offer to junior creditors to over $5b, but the offer is only good until Friday. On Wednesday, Caesars added an extra $1.6b to the $

  4. Nobel Sustainability Trust, Prince Albert II of Monaco help launch major new initiative to drive sustainable technologies[more]

    Matthias Knab, Opalesque: The Nobel Sustainability® Trust ("NST") is leading a major new initiative to finance, incubate and accelerate the development of clean technologies. The initiative will start with the formation of the Nobel Sustainability Fund® ("NSF"). NSF will drive faster access t

  5. Comment - ‘Gut feeling’ measurable in hedge fund traders, How hedge fund managers can use blockchain to maximize benefits[more]

    ‘Gut feeling’ measurable in hedge fund traders From Laboratoryequipment.com: “Gut feeling” is an intangible – an automatic hunch – based on prior experience for some people. But the “gut feeling” is actually a measurable response developed in professionals doing some high-risk work, acco