Sunday, 1 February 2015
Last updated 1 day ago
May 16 2012 | 12:41pm ET
Private equity giant Kohlberg Kravis Roberts may buy its way into the fund of hedge funds business.
KKR is in talks with Prisma Capital Partners about buying a stake in the New York-based firm, The New York Times reports. It is unclear how large a stake KKR is seeking in the ongoing talks, or whether a deal was imminent.
Prisma has some $8 billion in assets under management. The firm was founded by former Goldman Sachs alumni in 2004 to buy the hedge fund division of Dutch insurer Aegon's AEGON USA Investment Management.
A deal would give Prisma access to KKR's investors. For KKR, adding Prisma would be a first step towards challenging rival Blackstone Group in funds of funds; Blackstone has almost $40 billion in fund of funds assets.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…