KKR's McVey on PE in 2023, Global Market Uncertainty

The video discusses the current state of the private equity market, highlighting the opportunities and challenges in 2023. It covers economic conditions, market signals, and the impact of inflation on the cost of capital. The discussion also touches on global economic shifts, including China's re-acceleration and supply chain changes. Finally, the video explores currency market dynamics, focusing on the yen and dollar, and the implications of central bank policies.

What has been the trend in uninvested capital in private equity over the past 20 years?

• It has fluctuated wildly.

• It has significantly increased.

• It has significantly decreased.

• It has remained at the same level.

What is the expected trend for private equity in 2023 according to the speaker?

• A year of high risk and low returns.

• A great vintage year for investments.

• A decline in investments.

• A stagnant year with no growth.

What is the speaker's view on the current market cycle?

• It is a mid-cycle.

• It is a recession cycle.

• It is an early cycle.

• It is a late cycle.

Which factor is NOT mentioned as influencing the macroeconomic environment?

• China's economic policies.

• South American trade agreements.

• Europe's natural gas supply.

• U.S. job market conditions.

What is the speaker's perspective on the cost of capital?

• It is expected to decrease significantly.

• It has risen significantly and may remain high.

• It is unpredictable and volatile.

• It will remain stable.

What is one of the key factors contributing to structural inflation according to the speaker?

• Decreasing labor costs.

• Global peace agreements.

• Technological advancements.

• The energy transition.

How does the speaker view the current state of global capital markets?

• They are functioning well.

• They are completely dysfunctional.

• They are in a speculative bubble.

• They are irrelevant to private equity.