Meet the Aussie who will be crucial to KKR’s $1.5trn ambition

It was just before noon in New York on Wednesday when David Luboff strode on stage at KKR’s investor day, flanked by his fellow co-head of Asia Pacific, Gaurav Trehan.

Second, alternatives – the private equity, private credit, infrastructure and real estate, and annuity strategies that KKR is famous for – have relatively low penetration, accounting for 9 per cent of GDP, compared with 26 per cent in North America.With high net-worth investors in the region holding $US25 trillion in assets, Luboff says the “exporting” of capital from the region will be key to KKR hitting that $US300 billion fundraising target.

Kravis said staff at a garage door company it owns recently received bonuses that averaged $US175,000 per employee; few listed companies can claim that sort of financial alignment with staff. KKR has traditionally served institutional investors, and sees another $US19 trillion pouring into the coffers of sovereign wealth funds and pension funds by 2030. Based on current figures, somewhere between 20 per cent and 30 per cent of their assets will be invested in alternative assets.

Source: News Formal (newsformal.com)

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