Hedge Funds
Feb 6 (Reuters) - Hedge fund investment firms PAAMCO and KKR Prisma said on Monday they were merging, signaling more consolidation in the so-called funds of funds sector as assets continue to contract and clients demand more. The new firm, PAAMCO Prisma Holdings, plans to offer alternative investment strategies for individual investors through mutual funds, exchange traded funds and closed-end funds, tapping into a hot segment at a time when less-affluent investors want to diversify their portfolios with funds that used to be reserved for the super wealthy. PAAMCO Prisma Holdings will have more than $30 billion in assets and...