Mergers & Acquisitions / Joint Ventures

M&A wave continues as KKR buys Prisma

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KKR & Co, a global investment firm founded in 1976 with roots in private equity, has announced plans to acquire Prisma Capital Partners, a provider of customised hedge fund solutions, currently backed by the Aegon insurance and financial group.

The move will allow KKR – which, with $62.3 billion under management now also has established private, public and capital market activities – to compete in the hedge fund space with fellow private equity rival, Blackstone.

The transaction is expected to close in the fourth quarter of 2012, and financial terms were not disclosed. Prisma was founded in 2004