Home / transaction / Berkshire Global Advisors acted as financial advisor to Pennybacker Capital Management
Berkshire Global Advisors acted as financial advisor to Pennybacker Capital Management
  • has sold a minority stake to
  • Berkshire Global Advisors acted as financial advisor to Pennybacker Capital Management

  • Date: November 2019
  • Sector: Private Markets - Real Estate / Assets
  • Sub-Sector: Real Estate
  • Region: APAC | North America
  • Seller AUM: $1.9 Billion
  • Seller Details:
    Pennybacker Capital Management, is an Austin, Texas-based alternative investment manager offering private equity investment strategies focused on both commercial retail, office, and industrial assets, as well as affordable multifamily residential real estate in certain US markets. Currently, Pennybacker manages over US$1.9 billion across its value, credit and income & growth strategies.

    Buyer Details:
    Pacific Current Group is dedicated to providing shareholder value through diligently building and managing a portfolio of bespoke investments in 16 boutique asset managers (including Pennybacker). They combine capital, strategic business development and a strong network of institutional and retail clients to help affiliates achieve success.

    Kudu provides asset managers worldwide with durable capital solutions tailored to special situations: generational ownership transfers, legacy partner liquidity, management buyouts, and acquisition and growth finance. Kudu also offers a range of advisory services to help its asset manager partners sustain and expand their businesses while remaining independent. Kudu’s capital partner is White Mountains Insurance Group, Ltd. (NYSE: WTM)

    Transaction Summary:
    The partnership aligns with and strengthens Pennybacker’s long-term strategic plans. Pennybacker seeks to take advantage of Pacific Current and Kudu’s deep knowledge and experience with investment managers along with its central resources to continue to grow its platform.