KKR today announced the appointment of Todd Builione as Global Head of Private Wealth. In this newly created role, Mr. Builione will oversee the firm’s strategic priority of building its private wealth distribution platform to expand access to KKR’s alternative investment strategies for individual investors globally.
As Global Head of Private Wealth, Mr. Builione will oversee KKR’s regional private wealth leads Dan Parant and Doug Krupa in the United States, Markus Egloff in APAC and Mark Tucker in EMEA, as well as the newly created Global Private Wealth Product Strategies effort led by Mr. Krupa. KKR’s private wealth team is an integral part of the firm’s Client & Partner Group, led by Eric Mogelof, and focuses on building high-quality, democratized investment solutions to meet the needs of individual investors, as well as growing the firm’s relationships with leading wirehouses, private banks, independent/regional broker-dealers, registered investment advisers (RIAs) and fintech platforms. The appointment reinforces KKR’s commitment to serving the approximately $175 trillion global private wealth market by delivering customized products and increased access to KKR’s investment strategies.i
Joe Bae and Scott Nuttall, Co-Chief Executive Officers of KKR, said: “Over the past decade, Todd has led a number of KKR’s important business priorities, including launching our strategic partnership with Marshall Wace and being instrumental in the growth of our Credit and Capital Markets businesses. We believe the addition of a senior leader with a global focus will be additive to the success of our global private wealth effort, a critical component of our growth strategy and a big opportunity for the firm.”
KKR currently manages approximately $50 billion in private wealth assets through relationships with distribution partners and a large network of Financial Advisors and RIAs. In recent years, between 10 and 20 percent of new capital raised annually by KKR has come from private wealth. This is expected to grow to 30 to 50 percent of annual fundraising over the next several years, driven by investments the firm is making across sales and marketing, distribution, technology, product creation and education, as well as the continuation of KKR’s long history of investment success. Today, KKR’s private equity, credit and real estate investment strategies are accessible for individual investors through a suite of KKR-sponsored and third-party continuously offered registered funds.
“The combination of a low yield environment, new technology and innovative investment structures is creating an inflection point in the industry and we see individual investors poised to significantly increase their allocations to alternatives in the coming years,” said Eric Mogelof, Global Head of KKR’s Client & Partner Group. “Todd’s extensive knowledge of KKR’s investment strategies and embodiment of our culture make him the ideal partner to lead our global private wealth effort, ensuring that all of our investors continue to receive the best of what KKR has to offer.”
Todd Builione joined KKR in 2013 and is a Partner who most recently served as President of KKR Credit and Markets. In this role, he helped lead the development of the firm’s credit business and capital markets franchise. He also serves on the firm's Distribution Heads Committee, Risk & Operations Committee and Inclusion & Diversity Council. Mr. Builione serves on the Board of Directors of Marshall Wace, a liquid alternatives provider in which KKR is a strategic partner, and the Board of Directors of FS KKR Capital Corp., a business development company which trades on the NYSE. Prior to joining KKR, Mr. Builione served as President of Highbridge Capital Management and CEO of Highbridge's hedge fund business.
“I am excited to be a part of our global team focused on making KKR’s investment strategies available to a broader group of investors,” Mr. Builione said. “Alternative investments are an important part of a diversified portfolio and individual investors have historically been under allocated to private markets due to the structural barriers to entry. As we continue to build our private wealth platform we will continue to maintain the same commitment to thoughtful product development and exceptional client service that has been critical to KKR’s success for more than four decades.”
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.