KKR's Henry McVey - Regime Change is Here: Think Differently About Asset Allocation | #592
Today’s guest is Henry McVey, Head of Global Macro & Asset Allocation and Firmwide Market Risk and CIO of the KKR Balance Sheet. In today’s episode, Henry discusses the current macroeconomic landscape, emphasizing the regime change underway. He touches on the implications of a decline in the US dollar, where he sees opportunities in global markets, particularly in Europe and Japan, and asset allocation advice for investors.
Key Points
- Investors should be cautious about government bonds given rising government debts and look for alternative ways to replicate similar fixed income or return profiles.
- The reopening of the IPO market is a positive sign, offering equity value creation and alternative exit strategies for private equity firms.
- There are significant investment opportunities in Japan, particularly in corporate carve-outs and real estate, driven by government-backed corporate reform and low absolute interest rates.
Follow Henry: Website; LinkedIn
Resources: Mid-Year Outlook for 2025: Make Your Own Luck Acceleration in the Global Flywheel The Art of Learning
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Transcript
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