{"id":43094,"date":"2014-07-16T08:17:40","date_gmt":"2014-07-16T12:17:40","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=43094"},"modified":"2014-07-16T08:29:38","modified_gmt":"2014-07-16T12:29:38","slug":"kkr-takes-minority-stake-in-hedge-fund-blackgold-capital","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/07\/2014\/kkr-takes-minority-stake-in-hedge-fund-blackgold-capital.html","title":{"rendered":"KKR Takes Minority Stake in Hedge Fund BlackGold Capital"},"content":{"rendered":"<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2011\/09\/merger-acquisition.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright  wp-image-24923\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2011\/09\/merger-acquisition.jpg\" alt=\"merger-acquisition\" width=\"321\" height=\"220\" srcset=\"https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2011\/09\/merger-acquisition.jpg 363w, https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2011\/09\/merger-acquisition-300x205.jpg 300w\" sizes=\"auto, (max-width: 321px) 100vw, 321px\" \/><\/a>New York (HedgeCo.Net) &#8211; Global investment firm KKR &amp; Co. L.P. is acquiring a 24.9% interest in credit-oriented hedge fund BlackGold Capital Management, the WSJ reports.<\/p>\n<p>Founded in 2006 by co-founders Erik Dybesland and Adam Flikerski, Blackgold\u00a0manages $1.4 billion in assets and specializes in energy and hard asset investments.<\/p>\n<p>The investment in BlackGold is part of KKR&#8217;s efforts to develop the firm\u2019s hedge fund platform, which is co-led by Girish Reddy and Todd Builione, and to expand the firm\u2019s energy business, which is led by Marc Lipschultz.<\/p>\n<p>&#8220;Through this strategic investment in BlackGold, we are partnering with an outstanding team with an excellent track record of delivering returns to investors.&#8221;\u00a0Todd Builione, co-head of Hedge Funds at KKR, said. &#8220;We are thrilled to add BlackGold to our hedge fund platform and we look forward to a long-term partnership with Erik, Adam and the full BlackGold team.&#8221;<\/p>\n<p>BlackGold\u2019s management team will continue to manage the business independently, and BlackGold&#8217;s investment strategies will not change as a result of KKR\u2019s investment. All of BlackGold founders\u2019 capital will remain invested in the funds and the majority of the proceeds received from this transaction will be re-invested in the funds \u2013 maintaining full alignment with their investors. Pro forma this transaction, the BlackGold management team will own 75.1% of BlackGold.<\/p>\n<p>KKR\u2019s hedge fund platform includes its approximately $10 billion multi-manager hedge fund business (KKR Prisma) and a Strategic Stakes &amp; Seeding business that invests the firm\u2019s balance sheet to acquire minority stakes in hedge fund managers. BlackGold represents KKR\u2019s second minority stake in a hedge fund manager, following the 2013 investment in Nephila Capital, an insurance-linked securities manager with approximately $10 billion under management.<\/p>\n<p><span style=\"color: #000000;\">Alex Akesson<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">Editor for\u00a0<\/span><a style=\"color: #743399;\" title=\"hedge funds\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.net<\/a><br style=\"color: #000000;\" \/><a style=\"color: #743399;\" href=\"mailto:alex@hedgeco.net\">alex@hedgeco.net<\/a><br style=\"color: #000000;\" \/><a style=\"color: #743399;\" title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.Net<\/a><span style=\"color: #000000;\">\u00a0is a premier\u00a0<\/span><a style=\"color: #743399;\" title=\"hedge fund database\" href=\"http:\/\/www.hedgeco.net\/\">hedge fund database<\/a><span style=\"color: #000000;\">\u00a0and community for qualified and accredited investors only. Membership in\u00a0<\/span><a style=\"color: #743399;\" title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.net<\/a><span style=\"color: #000000;\">\u00a0is FREE and EASY. We also offer FREE LISTINGS for\u00a0<\/span><a style=\"color: #743399;\" title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">Hedge Funds<\/a><span style=\"color: #000000;\">!<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (HedgeCo.Net) &#8211; Global investment firm KKR &amp; Co. L.P. is acquiring a 24.9% interest in credit-oriented hedge fund BlackGold Capital Management, the WSJ reports. Founded in 2006 by co-founders Erik Dybesland and Adam Flikerski, Blackgold\u00a0manages $1.4 billion in [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16044,3],"tags":[],"class_list":["post-43094","post","type-post","status-publish","format-standard","hentry","category-hedge-fund-strategies-2","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/43094","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=43094"}],"version-history":[{"count":6,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/43094\/revisions"}],"predecessor-version":[{"id":43100,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/43094\/revisions\/43100"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=43094"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=43094"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=43094"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}