WEST PALM BEACH, Fla. and NEW YORK, Dec. 4, 2024 /PRNewswire/ -- RiverNorth Capital Management, LLC (RiverNorth), an investment manager  that specializes in opportunistic strategies and closed-end funds, and Kudu Investment Management, LLC (Kudu), a provider of permanent capital solutions to asset and wealth managers globally, today announced that Kudu has made a passive, minority investment in RiverNorth to support the firm's growth. Financial terms were not disclosed.

Founded in 2000, RiverNorth manages $5.2 billion of assets in registered funds, private funds and separately managed accounts that seek to identify and profit from inefficiencies in niche markets. With offices in West Palm Beach, Florida, and Chicago, RiverNorth remains majority employee-owned and controlled. Patrick Galley, CEO and chief investment officer, continues to lead the firm.

HAMILTON, Bermuda, Nov. 6, 2024 /PRNewswire/ -- White Mountains Insurance Group, Ltd. (NYSE: WTM) reported book value per share of $1,795 and adjusted book value per share of $1,883 as of September 30, 2024.  Book value per share and adjusted book value per share increased 4% and 6% in the third quarter of 2024 and 9% and 11% in the first nine months of 2024, including dividends. 

As of July 1, 2024, White Mountains no longer consolidates BAM.  As of September 30, 2024, the BAM surplus notes were fair valued in accordance with GAAP at $411 million, which resulted in a pre-tax unrealized loss to book value of $99 million in the third quarter.  As of June 30, 2024, for adjusted book value purposes, the BAM surplus notes were valued at $415 million, including an $87 million time value discount. 

SAUSALITO, Calif. and NEW YORK, Oct. 22, 2024 /PRNewswire/ -- Revelation Partners (Revelation), a leading investment manager in the healthcare secondaries market, and Kudu Investment Management, LLC (Kudu), a provider of permanent capital solutions to independent asset and wealth managers worldwide, today announced that Kudu has made a minority investment in Revelation. Financial terms were not disclosed.

Sausalito, California-based Revelation manages more than $1.5 billion of committed capital and provides liquidity and growth capital to investors, companies, limited partners and general partners across the private healthcare market.

With a three-year revenue growth of 309 percent, Bamboo Insurance ranks among America's Fastest-Growing Private Companies.

MIDVALE, Utah, Aug. 13, 2024 /PRNewswire/ -- Inc. announced today Bamboo Insurance has earned the No. 1,680 spot on the Inc. 5000 2024, its esteemed list of the fastest-growing private companies in America. This prestigious ranking offers a data-driven look at the most successful independent and entrepreneurial companies that have driven rapid revenue growth while navigating inflationary pressure and the rising costs of capital.

HAMILTON, Bermuda, May 20, 2024 /PRNewswire/ -- White Mountains Insurance Group, Ltd. (NYSE: WTM) will hold its Annual Investor Information Meeting on:

Date:

Friday, 7 June, 2024

Time:

10:00 a.m. (Eastern Time)

Location:

Mandarin Ballroom, 36th Floor

Mandarin Oriental Hotel

80 Columbus Circle at 60th Street

New York NY  10023

Investors and other interested parties can participate either in person or via Webcast.  Manning Rountree, CEO, said, "We will discuss White Mountains's operations and our outlook for the Company.  Following a short presentation, my partners and I will answer your questions."

HAMILTON, Bermuda, May 10, 2024 /PRNewswire/ -- White Mountains Insurance Group, Ltd. (NYSE: WTM) announced today that MediaAlpha, Inc. ("MediaAlpha") closed its previously announced underwritten secondary public offering of 7,590,000 shares (including 990,000 shares sold pursuant to the underwriters' option to purchase additional shares) of its Class A common stock by certain selling stockholders. The shares of Class A common stock were sold to the public at a price of $19.00 per share. MediaAlpha did not sell any shares of Class A common stock in the offering.

HAMILTON, Bermuda, May 9, 2024 /PRNewswire/ -- White Mountains Insurance Group, Ltd. (NYSE: WTM) reported book value per share of $1,742 and adjusted book value per share of $1,797 as of March 31, 2024.  Book value per share and adjusted book value per share increased 5% and 6% in the first quarter of 2024, including dividends. 

Manning Rountree, CEO, commented, "We had a good first quarter, with ABVPS up 6%.  Our position in MediaAlpha was a key driver.  Away from MediaAlpha, we had solid operating and investment results.  Ark delivered a 94% combined ratio while writing $872 million of gross written premiums in the quarter, up 8% year-over-year.  BAM produced $22 million of gross written premiums and member surplus contributions in the quarter.  Kudu grew net investment income and adjusted EBITDA year-over-year.  Bamboo had a strong first quarter under our ownership, more than tripling managed premiums year-over-year.  MediaAlpha's share price was up roughly $9 in the quarter, producing a $211 million unrealized gain. Excluding MediaAlpha, the investment portfolio returned 1.2% in the quarter, with gains in both fixed income and equities.  Undeployed capital now stands at approximately $600 million."