The business in which the stake is being taken was founded in 2017 and manages A$6.6 billion ($4.58 billion) in client assets.

Kudu Investment Management, which invests in wealth and asset managers, has taken a minority stake in Australian boutique Drummond Capital Partners for an undisclosed sum.

Drummond's founders, Tom Schubert and Nick Reddaway, will remain majority owners and Drummond will continue to operate under the same leadership team, investment framework and client service model, a statement from New York-headquartered Kudu said yesterday. 

Founded in 2017, Drummond, which has offices in Melbourne, Brisbane, Sydney and Perth, manages A$6.6 billion ($4.58 billion) in assets in tailored investment portfolios for financial advisors.

"We see a promising long-term opportunity in the Australian wealth management sector," Chris Shin, partner and co-chief investment officer at Kudu said.

“This partnership is about strengthening what already makes Drummond different. We were very deliberate in seeking a partner whose capital is permanent, whose approach is genuinely long-term, and whose model allows us to remain fully independent,” Drummond’s Schubert said. 

Founded in 2017, Drummond partners with select advice firms to design, deliver and manage separately managed account portfolios. Since its founding in 2015, Kudu has invested in 34 asset and wealth managers representing $154 billion as of 31 March 2026. Kudu is backed by capital partners White Mountains Insurance Group and MassMutual.