When Scott Nuttall and Joe Bae joined KKR as analysts in 1996, the firm looked quite different than it does today. Over their nearly three decades working alongside one another, our co-CEOs have developed a unique partnership, modeled after that of our founders, Henry Kravis and George Roberts. Throughout their time at the firm, they’ve driven major milestones and expanded KKR into new regions and nearly every aspect of alternative investing. What’s next? They sat down with Fortune’s Shawn Tully to discuss everything from the evolution of the firm to our growth plans to how they'll continue to preserve KKR’s unique culture. Check out the full interview below.
After meeting Scott and hearing him speak on stage, I know him and Joe will achieve this goal - I just think it’ll happen BEFORE 2030. 🤷🏽♂️
Great way to put it!
This is a great archive post
Great Read 📖
Great article love the history
Enjoyed the read. Sounds like a great team.
Impressive journey and growth!
Educator, Advisor & Impact Investor
1moA few years ago I wrote in an article for The Palgrave Encyclopaedia of Private Equity: "There are significant moves to use PE funds to acquire pools of capital that are then invested in the deals sponsored by the PE fund managers. Many large PE funds are acquiring insurance companies for this reason, amongst others. This is not new. Berkshire Hathaway emerged into its current form from the acquisition of pools of capital that could be reinvested in long term operating businesses in 1970s. Large PE firms are eying the same transformation. There are multiple risks to this transition, at a regulatory and organisational level. The model of buy-to-sell enables the carried interest reward system to create tight alignment. A buy-to-hold strategy is incompatible with carried interest as a primary motivator without significant modification. If large PE firms become large asset managers driven solely by fees, the alignment that was the feature of the industry’s foundation may become more rhetorical than real. " The effect of changing incentives and alignment is the big change in this new model.