The Firm is representing KKR & Co. L.P. in its acquisition of Prisma Capital Partners LP, a leading provider of customized hedge fund solutions. Prisma is known for identifying specialist hedge fund managers with exceptional track records and creating custom portfolios for clients. As of April 1, 2012, Prisma had $7.8 billion in assets under management, with more than 90% belonging to institutional investors. The transaction is expected to close in the fourth quarter 2012.

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Kramer Levin represented a joint venture of Toll Brothers and Starwood Capital Group in connection with its winning bid for and negotiation of a 97-year ground lease to develop a new $300 million hotel and residential complex that will be built next to Pier 1, just south of the Brooklyn Bridge in Brooklyn Bridge Park, a 1.3-mile-long park which stretches along the East River on the Brooklyn waterfront. The development will include approximately 200 hotel rooms, 160 condominium apartments, 32,000 square feet of restaurant and banquet space, a 6,000-square-foot spa and a 300 space parking facility. The deal was approved by the Brooklyn Bridge Park Corporation’s Board on Tuesday, June 19.

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Davis Polk advised underwriters represented by Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., J.P. Morgan Securities Ltd. and TD Securities (USA) LLC in connection with the offering of $1 billion aggregate principal amount of 0.5% U.S. dollar bonds due 2015, issued by Export Development Canada.

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Davis Polk is advising Bank of America Merrill Lynch as a joint bookrunner and joint lead arranger of a $3.5 billion senior unsecured bridge facility for Walgreen Co. in connection with its proposed acquisition of not less than 45% of the issued and outstanding equity interests in Alliance Boots GmbH.

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Davis Polk is advising Vector Capital on the $2.2 billion leveraged buyout of Quest Software, Inc. Joining with CEO Vincent Smith and Insight Venture Partners, on June 19, 2012, Vector Capital entered into definitive agreements to acquire Quest for $25.75 per share in cash. The transaction is also being financed with approximately $1.2 billion of debt financing commitments from J.P. Morgan Chase Bank N.A., RBC Capital Markets and Barclays Capital.

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