KKR Announces Strategic Partnership With PAAMCO
02.07.17
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Simpson Thacher is representing KKR & Co. L.P. in a strategic transaction to create a new liquid alternatives investment firm by combining Pacific Alternative Asset Management Company, LLC (“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. The combined business will operate under the new global brand, PAAMCO Prisma Holdings. The transaction is expected to close in the second quarter of 2017, subject to the satisfaction of customary closing conditions and receipt of regulatory approvals.
The Simpson Thacher team for this transaction includes Gary Horowitz, Christopher May, Wenli Cai and Robert LiCalzi (M&A); Michael Panzer (Credit); Rajib Chanda and Olga Gutman (Funds); Tanvi Mirani (Tax); David Rubinsky, Erin Murphy and Michael Cook (ECEB); and Jeanne Annarumma (ERISA).