KKR & Co. L.P. (NYSE: KKR), a leading global investment firm, today confirmed that all necessary consents and regulatory approvals to acquire Prisma Capital Partners LP ("Prisma") have been obtained and that the closing is anticipated to occur in October 2012. KKR announced its agreement to acquire Prisma, a leading provider of customized hedge fund solutions, on June 18, 2012. “We are pleased with Prisma’s performance and business momentum since announcing the transaction in June and we appreciate the support from Prisma’s clients. We believe that the combination of Prisma’s deep investment capabilities and KKR’s global footprint will create a unique offering in the market, and we look forward to Prisma becoming part of KKR,” said Co-Founders and Co-CEOs, Henry Kravis and George Roberts. As of September 1, 2012, Prisma had $8.1 billion in assets under management (“AUM”), which is Prisma’s highest level of AUM in its history and represents an increase from its $7.8 billion of AUM as of April 1, 2012. Since the announcement in June, investors have funded or awarded new mandates in excess of $650 million, including several additional allocations from existing investors. In addition, virtually 100% of Prisma’s clients have opted to continue to entrust management of their assets to Prisma following the transaction and the firm has seen redemption requests of less than 1% of AUM since the announcement, lower than the last four quarters. “We recognize that our investors expect us to continue to deliver the same or better levels of investment performance and investor servicing as we always have, and I am confident that we can deliver on those expectations,” said Girish Reddy, Co-Founder and CEO of Prisma. Upon the closing of the transaction, Prisma’s investment operations and processes will remain the same. Co‐founder and CEO Girish Reddy will assume leadership for KKR’s global hedge fund of funds effort. Prisma Co‐founders Thomas Healey and Gavyn Davies will become Senior Advisors to KKR. As part of the transaction, all employees have agreed to stay with Prisma after the acquisition and Prisma will continue to operate under the Prisma brand.