KKR & Co. LP and Pacific Alternative Asset Management Co. LLC completed a transaction to combine the latter and KKR Prisma to create PAAMCO Prisma Holdings LLC.

PAAMCO Prisma has more than $30 billion of assets under management or advisement and offers a suite of liquid alternatives products. Jane Buchan will continue as CEO of the PAAMCO business and Girish Reddy will remain CEO of the Prisma business. The two will be co-CEOs of PAAMCO Prisma Holdings.

PAAMCO Prisma Holdings employees own 60.1% of the company and KKR own 39.9% as a long-term strategic partner.