New York (HedgeCo.Net) – Kohlberg Kravis Roberts, a leading global investment firm, today announced an agreement to acquire Prisma Capital Partners LP (“Prisma”), a leading provider of customized hedge fund solutions.
The New York Based Prisma Capital Partners has made a name for themselves by picking small hedge funds and providing them with capital as well as custom portfolios. As of April 1, 2012 Prisma had $7.8 billion in assets under management, with more than 90% belonging to institutional investors.
KKR, which was founded by Henry Kravis and George Roberts in 1976 has made a name for itself in the Private Equity markets as one of the pioneers in the leveraged buyout industry.
“Prisma has a superb track record of investing, consistently performing in the top quartile and we have come to know the management team well over the last two years,” said Henry Kravis, Co-Founder and Co-CEO of KKR. “Many institutional investors are seeking more liquid alternative investment products, and we believe customized hedge fund solutions play a key role in meeting that need. This makes Prisma a good fit for KKR and we’re pleased to welcome the team.”
George Roberts, Co-Founder and Co-CEO of KKR, added, “The Prisma platform remains one of the strongest in the industry, with an investment team that has an average of 24 years of experience and no professional turnover in the last five years. This team has generated strong investment results through a deep understanding of the managers they invest in and an intense focus on risk management. The business also has never “gated” its clients, has consistently added clients and doubled its assets under management over the past 2 1/2 years.”
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