News

Kudu Investment Management Acquires Minority Stake In Wealth Manager First Long Island Investors

July 29th, 2019

NEW YORKJuly 29, 2019 — Kudu Investment Management, LLC, a provider of permanent capital solutions to asset and wealth managers worldwide, has acquired a passive minority interest in Jericho, N.Y.-based First Long Island Investors, LLC 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 D. Rosenthal and Ralph F. 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.

“Bob and Ralph and their team have built an exceptional franchise, serving entrepreneurs and other high net worth individuals in the greater New York area. We look forward to them continuing their uniquely client-centric approach that is evident in every aspect of the relationship from asset allocation to service, communication, and more,” said Kudu CEO Rob Jakacki.

“The Kudu team really understood our service culture and entrepreneurial DNA.  We were attracted to their philosophy of only investing in firms that continue to be managed and controlled entirely by their existing owners,” said Rosenthal, who is First Long Island’s chairman, CEO, and CIO. “Kudu also brings us a top-tier and growing network of partner firms and relationships we hope to leverage as we enter our next phase of growth.”

Kudu’s partners include West Coast wealth manager B|O|S; 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 AUM for institutional and individual investors.

Sandler O’Neill & Partners, L.P. acted as financial advisor and Seward & Kissel LLP served as legal advisor to First Long Island Investors, LLC.  Dechert LLP served as legal advisor to Kudu Investment Management, LLC.

About Kudu Investment Management, LLC
Kudu specializes in providing permanent capital solutions—including generational ownership transfers, management buyouts, acquisition and growth finance, as well as liquidity for legacy partners—to asset and wealth managers. Kudu was founded in 2015 and is backed by capital partner White Mountains Insurance Group, Ltd. (NYSE: WTM). For more information, please visit Kudu’s website.

About First Long Island Investors, LLC
First Long Island Investors is a Jericho, N.Y., based wealth management company dedicated to providing individualized advice and counseling in the preservation, growth, and administration of liquid and illiquid wealth for high-net-worth individuals, families, and select institutions. The team strives to provide its clients with sound advice, best-in-class service, and an unparalleled level of trust, which includes its principals investing alongside its clients. The firm, founded in 1983, oversees approximately $1.6 billion in assets (as of June 30, 2019).  Visit fliinvestors.com for more information.

Robert D. Rosenthal honored by Hofstra University at 23rd Annual Gala

May 13th, 2019

On May 2, 2019 Hofstra University held its 23rd Annual Gala and honored Robert D. Rosenthal, our Chairman, Chief Executive Officer and Chief Investment Officer for his years of dedication and service to the University as vice chairman of the Board of Trustees and chair of the Endowment Committee. The event raised a record-breaking 2.6 million dollars for scholarship. In addition to being the event honoree, Bob was presented with the Presidential Medal, one of the most prestigious awards given by the University.

Bob received his JD from the Maurice A. Deane School of Law at Hofstra University in 1974

Peconic Bay Medical Center dedicates admin campus to the late Robert Entenmann

June 12th, 2018

Peconic Bay Medical Center

Peconic Bay Medical Center honored the late Robert Entenmann, a founding client of First Long Island Investors, LLC, by naming the new administrative campus after him.  After Mr. Entenmann died in 2016, his children Jackie and Robert, through the Robert Entenmann Advisory Committee, recommended to New York Community Trust that a gift of $5 million be made to PBMC’s New Era Campaign benefitting cardiac care for the region.

Robert D. Rosenthal who is Chairman and CEO of FLI as well a Trustee of Northwell Health (of which Peconic Bay Medical Center is a part) along with Ralph F. Palleschi, President and COO of FLI, and Edward Palleschi, Senior Vice President at FLI, attended the dedication with Robert’s daughter Jackie and members of the community.  In his address to attendees at the event, Bob Rosenthal said “He [Robert Entenmann] was a man of conviction, a patriot, a man who believed in business ethics and most importantly he believed in quality – whether it was quality in a boxed cake we’ve all eaten for God knows how many years or whether it was quality in the wine he made at Martha Clara Vineyards, or his desire to have quality health care on Long Island.”

Read full press release here

Bruce A. Siegel co-led team of over 100 at DRI’s Empire Ride for the DRI

October 19th, 2017

On October 5, 2017, Bruce A. Siegel, Executive Vice President and General Counsel of First Long Island Investors, LLC, co-led the Empire Ride for the DRI in the Hampton’s.  In its second year, the ride raised more than $50,000 and had over 100 riders participate.  Bruce along with the other event chairs have all been affected by diabetes, and wanted to take their passion for cycling to raise both awareness and funds for the DRI’s singular goal of finding a cure diabetes.

The full press release is available on the DRI website by clicking here.

Empire Ride for the DRI cyclists Bruce Siegel, his wife Rachel, (Far Right) and fellow team members are all smiles knowing they did their part for diabetes research.

Empire Ride for the DRI cyclists Bruce Siegel, his wife Rachel, (Far Right) and fellow team members are all smiles knowing they did their part for diabetes research.

Wealth Transfer Tips

March 9th, 2017

Knowing when and how to start transferring wealth is an important topic for most high net worth individuals.  Philip W. Malakoff, Senior Vice President, Wealth Management, was recently asked for his insight on this topic by LI Pulse Magazine.

5 Steps for Transferring Wealth