Founders Tom Schubert and Nick Reddaway will maintain majority ownership of the business they established in 2017. Drummond operates across Melbourne, Brisbane, Sydney, and Perth, delivering institutional-quality managed account solutions specifically tailored for financial advice firms.

Chris Shin, partner and co-CIO at Kudu, cited the Australian wealth management sector as a key long-term opportunity for the firm. By providing permanent capital, Kudu intends to support Drummond’s strategic growth without imposing changes to the firm's day-to-day operations or service models. For Drummond, the partnership offers the resources to expand its product suite and team, further cementing its position in the advice-led managed account space.