Kudu invests in healthcare PE firm Martis Capital

• Martis Capital Managing Partners Barry Uphoff, Mario Moreno and Owen Davis will continue to lead the firm
• Houlihan Lokey, Inc. was financial advisor to Martis Capital on the deal
• Since 2011, Martis Capital has raised nearly $2.2 billion from its investor base

Kudu Investment Management has made a minority investment in Martis Capital, a San Francisco and Washington, D.C.-based healthcare-focused private equity firm. No financial terms were disclosed.

Kudu is a provider of permanent capital solutions to independent asset and wealth managers worldwide.

Martis Capital Managing Partners Barry Uphoff, Mario Moreno and Owen Davis will continue to lead the firm.

“The new partnership with Kudu is a significant step forward in our firm’s development, bringing a supportive team with broad asset management industry expertise, a global network of relationships, and potential access to capital for future growth,” said Uphoff, founder of Martis Capital in a statement.

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.

Since 2011, Martis Capital has raised nearly $2.2 billion globally from a diverse group of prominent institutional investors and family offices, strategic partners, and healthcare entrepreneurs.The firm closed its fourth fund, Martis Partners IV, LP, on June 6, 2023, with approximately $779 million in capital commitments, exceeding its target of $700 million.

Since it was founded in 2015, New York-based Kudu has invested in 24 asset and wealth managers headquartered in the U.S., Canada, U.K., and Australia.