Kudu Closes $250 Million Investment from Oaktree and White Mountains
Summary
"Our partnership with Oaktree and White Mountains enables Kudu to pursue additional opportunities to invest in boutique firms in both traditional and alternative classes. "Brian Laibow, Managing Director at Oaktree, said, "Were looking forward to partnering with Kudu as they enter into their new era of growth. "Manning Rountree, Chief Executive Officer of White Mountains, added, "We are delighted to back Rob, Charlie and the Kudu team, whose experience and capabilities are first rate, and to invest alongside Oaktree. However, whether actual results and developments will conform to its expectations and predictions is subject to risks and uncertainties that could cause actual results to differ materially from expectations, including: the risks that are described from time to time in White Mountainss filings with the Securities and Exchange Commission, including but not limited to White Mountainss Annual Report on Form 10-K for the fiscal year ended December 31, 2016 filed February 27, 2017; claims arising from catastrophic events, such as hurricanes, earthquakes, floods, fires, terrorist attacks or severe winter weather; the continued availability of capital and financing; business opportunities (or lack thereof) that may be presented to it and pursued; competitive forces, including the conduct of other property and casualty insurers and reinsurers; changes in domestic or foreign laws or regulations, or their interpretation, applicable to White Mountains, its competitors or its customers; an economic downturn or other economic conditions adversely affecting its financial position; recorded loss reserves subsequently proving to have been inadequate; actions taken by ratings agencies from time to time, such as financial strength or credit ratings downgrades or placing ratings on negative watch; and other factors, most of which are beyond White Mountainss control.Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements, and there can be no assurance that the actual results or developments anticipated by White Mountains will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, White Mountains or its business or operations. White Mountains assumes no obligation to publicly update any such forward-looking statements, whether as a result of new information, future events or otherwise.