/C O R R E C T I O N -- Kudu Investment Management, LLC/

Rhea-AI Summary

Kudu Investment Management (NYSE:WTM) issued a correction and detailed its minority investment in Australian Financial Planning Group (AFPG), a 30-adviser wealth manager with over A$3.0 billion in client assets.

AFPG will use proceeds to expand its adviser base, pursue acquisitions, and support growth while retaining independent ownership and existing leadership. Kudu’s partner firms collectively manage about US$154 billion as of March 31, 2026.

Positive

• Kudu makes minority investment in AFPG to support growth initiatives
• AFPG manages over A$3.0 billion with a 30-adviser team
• Kudu partner firms collectively invest approximately US$154 billion AUM

Negative

• None.

News Market Reaction – WTM

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In the Jun 25 session, WTM declined 0.13%, reflecting a mild negative market reaction.

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In the news release, Australian Financial Planning Group Secures Minority Investment from Kudu Investment Management to Fund Growth Initiatives, issued 24-Jun-2026 by Kudu Investment Management, LLC over PR Newswire, we are advised by the company that the fourth paragraph, first sentence, should read ""We founded AFPG with a commitment to delivering high-quality advice to our clients, and that will not change," said Carter." rather than ""We founded AFPG with a commitment to delivering independent, high-quality advice to our clients, and that will not change," said Carter." The complete, corrected release follows:

Australian Financial Planning Group Secures Minority Investment from Kudu Investment Management to Fund Growth Initiatives

SYDNEY and NEW YORK, June 24, 2026 /PRNewswire/ -- Australian Financial Planning Group (AFPG), an established wealth management firm serving clients across Australia, and Kudu Investment Management, LLC (Kudu), a provider of permanent capital solutions to independent asset and wealth managers globally, today announced that AFPG has secured a minority investment from Kudu. Financial terms of the transaction were not disclosed.

Founded in 2001, AFPG has a team of 30 advisers, manages in excess of A$3.0 billion, and offers a suite of financial planning, lending and accounting services.

Sydney-based AFPG plans to use the proceeds from this transaction to support its continued growth, including expanding its advisor base and pursuing strategic acquisitions, while maintaining its independent ownership structure. The firm will continue to be led by Matt Carter, its founder, and management team, with no changes to its day-to-day operations.

"We founded AFPG with a commitment to delivering high-quality advice to our clients, and that will not change," said Carter. "Kudu's minority investment allows us to retain control of our business while providing the capital and strategic support to accelerate our growth, particularly through acquisitions. We're excited about the opportunities ahead."

"Australia represents a compelling market for wealth management, supported by strong secular growth drivers and increasing demand for high-quality financial advice," said Chris Shin, partner and co-chief investment officer of Kudu. "AFPG has built an impressive business with a clear vision and strong leadership. We are delighted to partner with Matt and his team as they continue to expand their business."

Since it was founded in 2015, New York-based Kudu has made investments in 34 asset and wealth managers in the U.S., Canada, U.K., Europe and Australia. Kudu's partner firms now collectively invest approximately US$154 billion, as of March 31, 2026, on behalf of individual and institutional investors worldwide in traditional and alternative strategies and market segments.

Johnson Winter Slattery was legal counsel and PwC served as financial advisor to AFPG. MinterEllison served as legal counsel to Kudu.

About Australian Financial Planning Group

AFPG is an independent wealth management firm providing comprehensive financial planning and investment advisory services to individuals and families across Australia. Based in Sydney, the firm manages in excess of A$3.0 billion for its clients and is dedicated to delivering tailored advice, long-term client relationships, and disciplined investment solutions. For more information, visit www.afpg.com.au.

About Kudu Investment Management, LLC

Kudu Investment Management, LLC provides long-term capital solutions—including generational ownership transfers, management buyouts, acquisition and growth finance, as well as liquidity for legacy partners—to independent asset and wealth managers globally. Kudu was founded in 2015 and is backed by capital partners White Mountains Insurance Group, Ltd. (NYSE: WTM) and MassMutual. For more information, visit www.kuduinvestment.com.

Media Contacts

For AFPG:

Matt Carter, Founder
mcarter@afpg.com.au

For Kudu:

Margaret Kirch Cohen
Newton Park PR
margaret@newtonparkpr.com
+1 847-507-2229

View original content to download multimedia:https://www.prnewswire.com/news-releases/australian-financial-planning-group-secures-minority-investment-from-kudu-investment-management-to-fund-growth-initiatives-302809926.html

SOURCE Kudu Investment Management, LLC

FAQ

What correction did Kudu announce in the June 29, 2026 AFPG investment release for WTM?

Kudu corrected a quote from AFPG’s founder, clarifying a commitment to delivering high-quality advice, rather than “independent, high-quality advice.” According to Kudu, the rest of the announcement, including the minority investment details, remains unchanged.

What is the Kudu minority investment in Australian Financial Planning Group and how does it relate to WTM?

Kudu made a minority investment in AFPG, a nationwide Australian wealth manager. According to Kudu, AFPG will use the capital to fund growth and acquisitions while keeping independent ownership and existing management, which may interest investors tracking WTM’s associated investment activities.

How will AFPG use the minority investment from Kudu Investment Management (NYSE:WTM)?

AFPG plans to use Kudu’s minority investment to expand its adviser base and pursue strategic acquisitions. According to Kudu, AFPG aims to support continued growth while maintaining its independent ownership structure and existing day-to-day operations under founder Matt Carter.

What are the key financial metrics of Australian Financial Planning Group in Kudu’s June 2026 WTM-related announcement?

AFPG has a team of 30 advisers and manages in excess of A$3.0 billion. According to Kudu, the firm provides financial planning, lending, and accounting services across Australia and intends to scale these offerings using the new growth capital.

How extensive is Kudu Investment Management’s portfolio as highlighted in the AFPG minority investment news?

Kudu has invested in 34 asset and wealth managers across several regions since 2015. According to Kudu, its partner firms collectively invest about US$154 billion as of March 31, 2026, spanning traditional and alternative investment strategies worldwide.

Who will lead Australian Financial Planning Group after Kudu’s minority investment associated with WTM?

AFPG will continue to be led by founder Matt Carter and the existing management team. According to Kudu, there will be no changes to day-to-day operations, allowing AFPG to retain control while accessing capital and strategic support for expansion.