The Times They Are A-Changin’

KKR

Research

30 Pages

KKR surveys endowment and foundation chief investment officers on how they are reshaping portfolios for a regime of higher inflation and tighter liquidity. More than 30 CIOs describe assets under management that have roughly doubled, stretching teams, systems, and governance. Many still lean heavily into growth and venture, yet the authors argue realizations and diversification may look weaker ahead.

Date published: September 2022

Source: KKR

Key Takeaways

Scale strains ops: Assets have roughly doubled, yet 70% report no staffing changes, raising operational risk.
Illiquidity keeps rising: Alternatives targets climb and lockups lengthen, increasing cash flow and pacing challenges.
Stay in lanes: CIOs want clearer mandates so liquidity and volatility are easier to model in choppy markets.
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