Funds News

BRIEF-PAAMCO and KKR Prisma form strategic partnership

Feb 6 (Reuters) - KKR & CO LP :

* PAAMCO and KKR Prisma form strategic partnership to create new liquid alternatives investment firm

* KKR Prisma - KKR Prisma and PAAMCO will combine to form a new firm, Paamco Prisma Holdings, which will have over $30 billion in assets

* KKR Prisma - combined business will be majority employee-owned with employees of PAAMCO and KKR Prisma owning 60.1pct of combined business

* KKR Prisma - KKR to retaini a 39.9pct ownership stake as a long-term strategic partner in the combined business

* KKR Prisma - combined business will be jointly run by Jane Buchan, co-founder and ceo of PAAMCO, and Girish Reddy, co-founder of KKR Prisma and head of KKR hedge funds

* KKR Prisma - pro forma for this transaction, KKR’S hedge fund strategic partnerships would have approximately $74 billion in assets under management or advisement in aggregate Source text for Eikon: Further company coverage: