KKR is not new to private wealth, said Doug Krupa, managing director and head of global wealth solutions at KKR, at the Pershing Insite conference. He said the firm has been in the private equity market for the past 15 years. What's new is that the company has built a suite of products across all of its asset classes — private equity, private infrastructure, private real estate and more — to make the alternatives more digestible for advisers and clients. theirs.
“Private wealth has become one of those strategic initiatives because institutional asset bases are a type of outsourcing,” Krupa said. “New pension plans aren't being created. They can still grow with the market, but a lot more private wealth is self-managed. It's no longer professionally managed, it's with advisers, and we really want to level that playing field, to give them the same tools.
He said those tools aren't yet “point and click,” but it's one of the last pain points to make alternatives more accessible.
“Everything is still available in some kind of digital subscription document. There is more uniformity in subscription documents, but it is still not point and click,” he said. “Hopefully there will be a solution down the road — it could be a digital register — it could be the fact that maybe we have these products available more point and click. That's the last mile we're still navigating.”