Founded by former Goldman Sachs Group Inc partners, Girish Reddy, Thomas Healey and Gavyn Davies in 2004, Prisma is known for identifying specialist hedge fund managers with exceptional track records and creating custom portfolios for clients, KKR said.
With this deal, the Prisma team will become part of KKR’s Public Markets segment. Reddy will run KKR’s global hedge fund of funds group, working with KKR executives. Healey and Davies will become senior advisors to KKR.
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As part of the agreement, all cash proceeds received by management at closing will be reinvested in Prisma funds. AEGON will sell its minority stake in the firm but will continue to be an investor in Prisma’s funds.
Upon the completion of the transaction, Prisma’s investment team will remain intact and core investment operations and processes will remain the same. Prisma will continue to operate under the Prisma brand.
The deal is expected to complete in the fourth quarter 2012 and financial terms were not disclosed.
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