KKR Blog

Aidan Corcoran, who heads our European macro effort, and I recently spent time traveling across Europe, with informative stops in Frankfurt and London. If there is one take-away that resonated for us after all of our meetings, it can be summed in the quote often attributed to Mark Twain that the “reports of my death are...

I recently traveled in Japan and China with Frances Lim, who heads up our macro effort across all of Asia. During the trip, we spent time with our KKR colleagues across Private Equity, Growth Equity, Real Estate, Credit, and infrastructure, and our own Global Macro team, including Changchun Hua and Allen Liu in Beijing. W...

When Aidan, Bola, and I penned our last Thoughts from the Road note on Europe in early August (see Keeping Perspectives), we indicated that sentiment was likely too bearish relative to fundamentals. This backdrop was an opportunity, we believed. Since then, European equities have outpaced those in the U.S., with the Euros...

Of the many changes associated with COVID, one of the most impactful for me personally was the loss of routine and ritual, including being able to travel and spend time with others outside of my day-to-day life in New York City. Many of you who have read my insights over the years know that I’ve been going to Asia fair...

When I last visited Aidan Corcoran and Bola Okunade in London back in May, we left the various meetings we organized there with a decidedly more cautious outlook for the global economy, Europe in particular (see our note Thoughts From the Road, May 2022). While we are again trimming our growth forecasts and raising our infl...

I recently spent time in London with Aidan Corcoran and Bola Okunade. This was my second visit to the United Kingdom since COVID, and I left decidedly more cautious on the global economy, Europe and Great Britain in particular. Fueling my conservatism about growth were a series of meetings we hosted with leading macro profe...

I recently spent time in Spain visiting with CEOs, CIOs and leading macro thinkers discussing the current state of play in the global economy. Upon arrival in Madrid, as I went through customs, I was reminded of my last international trip, one that entailed my essentially fleeing London to return to New York at the onset...

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...

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 ...

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...

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, ...

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...

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...

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...

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...

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...

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...

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...

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...