KKR & Co. L.P. (KKR), a leading global investment firm, and Marshall Wace LLP and its affiliates, a global liquid alternatives manager, announced a long-term strategic partnership. KKR will acquire at closing a 24.9% interest in Marshall Wace through a combination of cash and common units. KKR and Marshall Wace have the option to grow KKR's ownership interest over time to 39.9%.
Marshall Wace has over $22 billion of assets under management as of August 1, 2015, predominantly in equity long/short strategies. KKR expects the deal to be immediately accretive to its after-tax total Distributable Earnings per unit and after-tax Economic Net Income per unit. The transaction is expected to close later in the current year.
Upon close, the existing management team of Marshall Wace will continue to manage its business independently.
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