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In the week ending 10 February, 2017, KKR and PAAMCO have partnered to launch a new liquid alternatives investment firm by combining PAAMCO and KKR Prisma. Under the terms of the agreement, the entire businesses of both PAAMCO and KKR Prisma will be contributed to a newly formed company that will operate independently from KKR, and KKR will retain a 39.9% stake as a long-term strategic partner.

This transaction brings together two leading brands to create one of the largest firms in the liquid alternatives industry, with over $30 billion of assets under management or advisement and the ability to fulfill a broad range of liquid alternatives needs. Founded in March 2000, PAAMCO is a leading private institutional investment firm with $24 billion of assets under management or advisement dedicated to offering alternative investment solutions. KKR Prisma, with approximately $10 billion of assets under management, constructs and manages customized hedge fund portfolios and other products across the spectrum of liquid alternatives investments.

Michael Cowley plans to launch a $300m equities hedge fund Sandbar Asset Management later this year; Todd Westhus is in the preliminary stages of starting his own hedge fund; Blake Robbins has launched a new investment firm called Hillstone Capital; Han Tongli plans to start two hedge funds focused ......................

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