US-based investment firms KKR Prisma and Paamco have announced a strategic partnership to create Paamco Prisma Holdings, a new liquid alternatives asset manager with over $30bn in assets under management.
The combined entity’s capital will be held by employees of Paamco and KKR Prisma at 60.1% with KKR retaining a 39.9% ownership stake as a long-term strategic partner.
Paamco Prisma Holdings will operate independently from KKR and will be run by Jane Buchan, co-founder and CEO of Paamco, and Girish Reddy, co-founder of KKR Prisma and head of KKR Hedge Funds.
It is understood the Prisma and Paamco brands and funds will continue to exist separately.
Jane Buchan, co-founder and CEO of Paamco, said: “As the alternatives industry continues to evolve, expanding our reach will further enhance our ability to innovate and to provide leading solutions to our clients. This transformative step will enable us to provide added scale benefits, wider investment options and faster innovation to all of our investors.”
Girish Reddy, co-founder of KKR Prisma and head of KKR Hedge Funds, added: “Joining forces with PAAMCO will enable us to better serve our clients’ evolving investment requirements. I believe greater scale, flexibility, and additional resources will enhance our ability to generate strong investment performance and to build and service bespoke solutions for our clients.”