KKR's acquisition of a quarter of Marshall Wace places the firm back in the race to become the world's leading alternative assets manager, the Wall Street Journal reports. Although widely regarded as one of the premier large buyout firms, KKR has been noticeably slower than Blackstone and Carlyle to build up its other units. By assets under management, Carlyle is about twice the size of KKR and Blackstone is about three times the size. Although it is only initially taking a 24.9% stake in the hedge fund, with options to increase to 39.9% over time, KKR could gain full access to Marshall Wace's $22-billion of AUM. And with Marshall Wace being one of the world's best-known managers, the potential for growth of the combined operation could be significant, the WSJ writes.

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