On October 1, 2012, we closed on the acquisition of Prisma Capital Partners LP and its affiliates (“Prisma”), a leading provider of customized hedge fund solutions. Prisma will be reported as part of the Public Markets segment of KKR in the fourth quarter of 2012. This transaction is the first strategic acquisition in KKR’s history. The addition of Prisma provides KKR with a leading presence in the hedge fund of funds space and an attractive platform which we can leverage to create new, more liquid products for partners in our funds. As of September 30, 2012, Prisma had $8.1 billion of assets under management, which are not included in either AUM or FPAUM.“We are pleased with the firm's performance for the nine months through September 30. Our private equity funds appreciated by 20% and our balance sheet investments appreciated by 22%, outperforming the MSCI World Index by over 600 and 800 basis points, respectively,” said Henry R. Kravis and George R. Roberts, Co-Chairmen and Co-Chief Executive Officers of KKR. “In addition, with the closing of the Prisma acquisition, we welcome the Prisma employees into the KKR family and look forward to bringing the capabilities of both organizations to bear in the marketplace.”
|Note: Certain financial measures, including FRE, ENI, after-tax ENI, after-tax ENI per adjusted unit, fee related EBITDA, book value, cash and short-term investments and adjusted units, are not presented in accordance with accounting principles generally accepted in the United States of America (“GAAP”). See Exhibits A and B for a reconciliation of such measures to financial results prepared in accordance with GAAP. See calculation and reconciliation of total distributable earnings under “Distribution Calculation.”|
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