KKR's McVey: 2023 Will Be 'Great Vintage' for PE

The transcript discusses the state of the private equity market, noting that despite criticism, the level of uninvested capital has remained consistent over the years. The speaker expresses optimism for private equity in 2023, especially as banks pull back and companies seek capital. The discussion highlights the potential for operational improvements in the right sectors and management teams. The speaker also touches on investment strategies, emphasizing the current opportunity for lending and repositioning company footprints through corporate carve-outs.

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

• It has fluctuated wildly.

• It has significantly decreased.

• It has remained at the same level.

• It has significantly increased.

Why does the speaker believe 2023 will be a great year for private equity?

• Because there is less competition in the market.

• Because the stock market is booming.

• Because companies need capital when banks pull back.

• Because banks are increasing their lending.

What is the speaker's view on operational improvements in companies?

• They are insignificant in the private equity sector.

• They can have a dramatic impact if done in the right sectors.

• They are only beneficial in the public sector.

• They are not a focus for private equity firms.

What was the approach of the company last year due to economic uncertainties?

• Cautiously walking, not running.

• Completely halting all investments.

• Aggressively investing in all sectors.

• Focusing solely on technology stocks.

What strategy is highlighted as a significant theme for the company?

• Real estate development.

• Venture capital investments.

• Mergers and acquisitions.

• Corporate carve-outs.