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KKR to merge hedge fund Prisma with PAAMCO to form new investment firm
February 6, 2017 / 9:47 PM / 8 months ago

KKR to merge hedge fund Prisma with PAAMCO to form new investment firm

Feb 6 (Reuters) - KKR & Co LP said on Monday it would merge its hedge fund KKR Prisma with institutional investment firm PAAMCO to form an investment company with more than $30 billion in assets.

KKR said it would hold a 39.9 percent stake in the merged entity, with the remaining stake held by the employees of KKR Prisma and Pacific Alternative Asset Management Co, or PAAMCO.

The combined business will be jointly run by PAAMCO Chief Executive Jane Buchan and KKR Prisma co-founder Girish Reddy, KKR said. Reddy is also the head of KKR hedge funds.

PAAMCO manages over $10 billion in discretionary assets and advises on an additional $14 billion in assets. (Reporting by John Benny in Bengaluru; Editing by Savio D‘Souza)

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