KKR Co-Founder and Co-Executive Chairman George Roberts emphasised resilience and long-term opportunity despite near-term market disruption as he sought to reassure investors this week amid heightened volatility triggered by shifting US trade policy.
Speaking at the Milken Institute Global Conference in Los Angeles, Roberts invoked a tone of steadiness. “To quote Queen Elizabeth, ‘Stay calm and carry on,’” said the private equity titan, referring to the late monarch.
His comments come as US President Donald Trump’s trade measures – including a 10% blanket tariff on imports, and subsequent escalations impacting strategic partners such as China, Japan and the EU – have sent equity markets into retreat. The policy shifts have introduced complexity into asset pricing, increasing the challenge for private equity firms looking to exit through sales or IPOs.
The administration appears to be walking back some of the more novel approaches, Roberts said, adding that ultimately, voters would determine the future course.
Despite the turbulence, Roberts highlighted infrastructure as a particularly attractive sector for long-term capital deployment, citing elevated interest rates and a pipeline of quality assets as strong tailwinds.
Now with over $600bn in assets under management, KKR has significantly diversified its platform over the past decade, expanding beyond traditional buyouts into private credit, infrastructure, and real estate.
Roberts and Henry Kravis, who co-founded the firm in 1976, transitioned leadership to Co-CEOs in 2021 and continue to serve as co-Executive Chairmen.
