Jul 15 2014 | 12:44pm ET

BlackGold Capital Management is making it clear to clients that they have nothing to fear from its giant new partner.

The Houston-based credit hedge fund sent an emphatic e-mail to investors yesterday after it announced that Kohlberg Kravis Roberts had bought a nearly 25% stake in it, reiterating that the private-equity firm’s stake is a passive one and that its founders retain full control over the firm.

“EVERYTHING STAYS THE SAME AT BLACKGOLD- BUSINESS AS USUAL,” the firm trumpeted. “KKR will not be involved in the day-to-day operations of the business and will have no influence over the portfolio.”

BlackGold’s management team retains a 75.1% ownership interest in the firm. In the e-mail, the hedge fund explained how the deal came about, writing that they were first approached by KKR co-founder George Roberts about 15 months ago. While the $1.4 billion firm has previously spurned such offers, it accepted KKR’s due to the firm’s “global network of relationships.”

BlackGold said that KKR’s investment—the size of which was not disclosed—will be locked up for three years, and that the firm still plans to close to new investors at the end of the year.

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