Kudu Investment Management has acquired a passive minority interest in Jericho, N.Y.–based First Long Island Investors, which oversees approximately $1.6 billion in assets for high-net-worth individuals and families. Terms were not disclosed.
First Long Island was co-founded in 1983 by Robert Rosenthal and Ralph Palleschi, prominent local entrepreneurs who earlier in their careers were senior officers at both Entenmann's national baked goods company and the Islanders pro hockey franchise. Rosenthal conceived First Long Island while working with Palleschi on the financial and investment needs of the Entenmann family. The operating and investing experience they gained from these endeavors made them attractive to similar clients — business owners, entrepreneurs and wealthy families. They are well known for delivering investment and wealth management services rooted in their core principles of trust, service and performance.
Kudu’s partners include West Coast wealth manager BOS; New York property fund manager Savanna; alternative asset platform TIG Advisors; real assets investor Versus Capital; and European alternative credit specialist Fair Oaks Capital. Kudu's partners collectively manage approximately $19 billion in assets under management for institutional and individual investors.
