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Global Perspectives

KKR Insights
Regime Change: The Changing Role of Private Real Assets in the ‘Traditional’ Portfolio
BY HENRY H. MCVEY, Drew Golicz, Racim Allouani • Sep 06, 2023

Regime Change: The Changing Role of Private Real Assets in the ‘Traditional’ Portfolio

Against the current macroeconomic backdrop of ongoing fiscal stimulus, labor shortages, a global energy transition, and heightened geopolitics, we continue to envision a ‘higher resting heart rate’ for inflation relative to the prior cycle in many developed markets. In this environment we believe stocks and bonds are becoming more correlated, an important structural change for asset allocation. This Regime Change, as we like to call it at KKR, likely means that bonds, in our view, can no l....

Jun 29, 2023

Crunch Time: How a Real Estate Credit Crunch Could Benefit Investors

By Ralph F. Rosenberg

After decades of benign inflation, easy monetary policy, and low rates, we are being reminded what a rate shock means for real estate. The increase ....

Jun 21, 2023

Still Keeping It Simple: Mid-Year Update 2023

By Henry H. McVey

Amidst the supply-side-driven regime change that we believe has unfolded across the global macroeconomic landscape, we continue to advocate for ‘K....

Jun 15, 2023

A Crisis of Confidence

By Christopher A. Sheldon, Rory O'Farrell

A lack of confidence has altered the Credit landscape since the U.S. Federal Reserve began aggressively raising interest rates on the back of risin....

May 15, 2023

Asset-Based Finance: A Fast-Growing Frontier in Private Credit

By Varun Khanna, Avi Korn, Christopher Mellia

The impressive speed at which private asset-based finance (ABF) has expanded in the wake of the Global Financial Crisis is a sign of an ongoing struct....

Mar 27, 2023

Credit’s Odyssey: Steering Toward Ithaca

By Christopher A. Sheldon, Rory O'Farrell

At any other time, the events that took place in Credit markets during the fourth quarter of 2022 would have seemed extraordinary. Given the year go....