KKR Releases “A New Foundation for Global Wealth: Rebuilding Portfolios for the New Regime”
16 Novembre 2023 - 1:00PM
Business Wire
New KKR Report Focuses on Role of Private
Markets in Individual Investor Portfolios
KKR, a leading global investment firm, today announced the
release of “A New Foundation for Global Wealth: Rebuilding
Portfolios for the New Regime” by Paula Campbell Roberts, Chief
Investment Strategist for Private Wealth. This is the first release
in Investing for Wealth, a planned series of notes focused on the
evolving role of private markets assets in individual portfolios.
Drawing on insights from the “Regime Change” series of notes on
portfolio construction in a changing macroeconomic landscape, this
piece explains in detail how integrating private markets
investments can help address a variety of financial objectives.
“We believe that a confluence of tectonic geopolitical and
macroeconomic shifts, a shrinking and more concentrated public
company universe and expanded access to private markets are making
asset classes such as Private Equity, Private Credit, Private
Infrastructure and Private Real Estate more attractive to
individual investors than ever before,” said Ms. Roberts.
“Individuals will need to balance a number of personal
considerations such as age, sources of income and life
circumstances to find the right mix of these assets for their
portfolios, which can be done with the help of a trusted financial
advisor or private banker.”
Roberts and her team propose proprietary models for diversifying
beyond the traditional stock and bond 60/40 portfolio, which seek
to achieve the following three primary objectives:
- Generate Income: Aims to increase yield while
maintaining access to liquidity by including a substantial bond
allocation and reallocating from Public Equities to more
yield-oriented alternative asset classes such as Private Credit,
Private Real Assets and Private Infrastructure.
- Preserve Capital: Designed to increase stability of
returns while providing inflation hedging benefits through
allocations to Private Credit and Private Infrastructure, which
tend to exhibit low volatility and reliable hedging
characteristics.
- Boost Returns: Enhances total return potential by
reallocating some bond exposure to Private Equity, Private Credit
and Private Infrastructure while maintaining a healthy exposure to
Public Equities.
The report also notes that understanding cash management is
critical to successfully implementing allocations to private
markets alternatives and shares a framework for liquidity
management that involves segmenting liquid and illiquid investments
and mapping private markets investment funding and harvesting
expectations.
- To read the latest Investing for Wealth note, click here.
- To read prior installments in our portfolio construction
series, click here, here, here and here.
- For an archive of previous publications, click here.
About Paula Campbell Roberts
Paula Campbell Roberts joined KKR in 2017 and is the Chief
Investment Strategist for the firm’s Global Wealth Solutions
business and a Managing Director on the Global Macro, Balance Sheet
and Risk (GBR) team. Prior to joining KKR, Ms. Roberts was an
economist at Morgan Stanley, providing views on the economy and the
consumer sector to asset management clients. Before Morgan Stanley,
Ms. Roberts was a management consultant leading case teams and
advising Fortune 500 companies at Bain & Co. Ms. Roberts is one
of fifteen members of the Federal Reserve Bank of New York’s
Economic Advisory Panel and a Centennial Member of the Economic
Club of New York. Learn more about Ms. Roberts here.
About KKR
KKR is a leading global investment firm that offers alternative
asset management as well as capital markets and insurance
solutions. KKR aims to generate attractive investment returns by
following a patient and disciplined investment approach, employing
world-class people, and supporting growth in its portfolio
companies and communities. KKR sponsors investment funds that
invest in private equity, credit and real assets and has strategic
partners that manage hedge funds. KKR’s insurance subsidiaries
offer retirement, life and reinsurance products under the
management of Global Atlantic Financial Group. References to KKR’s
investments may include the activities of its sponsored funds and
insurance subsidiaries. For additional information about KKR &
Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com.
For additional information about Global Atlantic Financial Group,
please visit Global Atlantic Financial Group’s website at
www.globalatlantic.com.
The views expressed in the report and summarized herein are the
personal views of Paula Campbell Roberts of KKR and do not
necessarily reflect the views of KKR or the strategies and products
that KKR offers or invests. Nothing contained herein constitutes
investment, legal, tax or other advice nor is it to be relied on in
making an investment or other decision. This release is prepared
solely for information purposes and should not be viewed as a
current or past recommendation or a solicitation of an offer to buy
or sell any securities or to adopt any investment strategy. This
release contains projections or other forward-looking statements,
which are based on beliefs, assumptions and expectations that may
change as a result of many possible events or factors. If a change
occurs, actual results may vary materially from those expressed in
the forward-looking statements. All forward-looking statements
speak only as of the date such statements are made, and KKR, Ms.
Roberts does not assume any duty to update such statements except
as required by law.
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Media: Julia Kosygina 212-750-8300 media@kkr.com
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