Clifford Chance today announces that it advised Marshall Wace, a leading global liquid alternatives manager, on its long-term strategic partnership with KKR announced earlier today.

Under the terms of the agreement made between them, KKR will acquire at closing, expected later this year, a 24.9% interest in Marshall Wace for an undisclosed sum through a combination of cash and KKR common units.  In addition, KKR and Marshall Wace each has the option to grow KKR’s ownership interest in Marshall Wace over time to 39.9%.

Founded in 1997 by Paul Marshall and Ian Wace, Marshall Wace is one of Europe’s foremost hedge fund managers, specialising in global long/short equity strategies and had approximately $22bn under management as of 1 August 2015.

The Clifford Chance team was led by Joel Ziff (Partner - Corporate), Grace Yuen (Senior Associate -  Corporate) and Tony Stewart (Partner - Tax).