Feb 6 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