Henry H. McVey

Henry H. McVey

Member & Head of Global Macro & Asset Allocation, CIO of KKR Balance Sheet

Henry H. McVey (New York) joined KKR in 2011 and is Head of the Global Macro and Asset Allocation team. Mr. McVey also serves as Chief Investment Officer for the Firm’s Balance Sheet, oversees Firmwide Market Risk, and co-heads KKR...

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NOV 08, 2017

Why Asia is a Compelling Play on Three Global Macro Themes

Why Asia is a Compelling Play on Three Global Macro Themes

Earlier this year, we released our 2017 Outlook and Mid-Year Update, and highlighted several key themes and trends for the global macro landscape. Specifically, as noted in our most recent publication Asia: Leaning In, in which we partnered with KKR’s Global Institute to produce, we see Asia as a direct and compelli...

OCT 20, 2016

KKR Blog Asia: Pivot Required

KKR Blog Asia: Pivot Required

I recently joined my colleague Frances Lim on a whirlwind tour of the Asian region. In an attempt to refresh our top-down view of Asia, we visited a variety of cities and met with a variety of folks across both the private and public sector. To state the obvious: there is certainly no “one” Asia, as the region includes ...

SEP 19, 2016

5 Key Investment Themes: Finding Focus in the Volatility

5 Key Investment Themes: Finding Focus in the Volatility

Rising macroeconomic and geopolitical tensions are creating both opportunities and risks for global investors across global capital markets. KKR’s Global Macro and Asset Allocation team continues to emphasize five key macro themes amid the tumult, many of which we think can perform against a variety of...

JUL 14, 2016

Halfway Through 2016, Markets Are Still Adult-Swim Only

Halfway Through 2016, Markets Are Still Adult-Swim Only

We on the KKR global macro and asset allocation team stick to our base case from earlier this year: that we remain in an “Adult-Swim Only” investment environment, as we see more asynchronous growth ahead. Nonetheless, we still anticipate significant opportunities. Halfway through 2016, markets have cut a wide swath, ...

MAY 16, 2016

China: Mounting Macro Paradox

China: Mounting Macro Paradox

A recent visit to China gives us more assurance that there is a base rate of economic growth that the government will work hard to achieve in 2016, using a variety of monetary and fiscal tools. Our bigger conclusion, however, remains that the Chinese economy is structurally slowing, driven by disinflation, declining increm...

APR 01, 2016

Debates Are Blossoming in Spring 2016

Debates Are Blossoming in Spring 2016

Despite the sell-off in risk assets earlier this year, we still do not think that 2016 is the time to jump in. Indeed, many of the macroeconomic crosscurrents that we have witnessed so far in 2016 feel more like a random puzzle of complexity than a market of predictable efficiency. Just consider wha...

JAN 25, 2016

Economic Outlook for 2016: Adult-Swim Only

Economic Outlook for 2016: Adult-Swim Only

We at KKR are approaching early 2016 with caution. Valuations are not cheap at a time when central bank policy in the U.S. is changing, global trade is stalling, and corporate margins are peaking. Continuing Chinese yuan depreciation is significant: It means that every other country now must think through whether it needs t...

OCT 08, 2015

Asia: A Shifting Landscape

Asia: A Shifting Landscape

My colleague Frances Lim, now based in Sydney, and I recently traveled for a week throughout Asia, focusing primarily on key investment-related issues in China and Japan. Given recent events in China surrounding its currency and stock market as well as Prime Minister Abe’s rollout of his latest economic targets, the ti...

APR 09, 2015

Europe: Returning to Normality

Europe: Returning to Normality

Aidan Corcoran, who covers European macroeconomics for KKR, and I recently spent some time in London and Madrid on the way to the KKR European PE conference. Our Thoughts from the Road are as follows: Europe remains on an economic upswing, and as such, we are now revising our 2015 European GDP forecast to 1...

MAR 11, 2015

Brazil: A Perfect Storm

Brazil: A Perfect Storm

As part of the ongoing global macro and asset allocation effort at KKR, I try to spend time throughout the year in the various regions in which the Firm operates. This assignment is no small task, as we now have offices in 21 cities in 15 countries across five continents. Most recently, my travels took my colleague J...

DEC 01, 2014

Europe: More to Be Done

Europe: More to Be Done

Without question, the European macro backdrop remains a complex one, and as such, we thought it might make sense to share some of our most recent macro findings after a late November trip through Europe. To this end, please find below some high level conclusions as well as some more granular details from our latest Thoughts...

JUL 28, 2014

An Increasingly Complex Opportunity

An Increasingly Complex Opportunity

Over the past few weeks I have spent a considerable amount of time in Europe reviewing the macro-economic landscape with my colleague Aidan Corcoran, who joined the KKR Global Macro & Asset Allocation team through the Firm’s recent acquisition of Avoca Capital in Dublin, Ireland. As part of his full integration...