KKR Appoints Global Head of Private Wealth
KKR, a global investment firm that offers alternative asset management, has appointed Todd Builione as global head of private wealth.
KKR, a global investment firm that offers alternative asset management, has appointed Todd Builione as global head of private wealth. In this newly created role, he will oversee the building out of the firm’s private wealth distribution platform to expand access to KKR’s alternative investments for individual investors globally.
KKR’s private wealth team focuses on building investments for individual investors, as well as growing the firm’s relationships with wirehouses, private banks, independent and regional broker-dealers, registered investment advisers, and fintech platforms.
“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.
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 and operations committee, and inclusion and diversity council.
Builione serves on the board of Marshall Wace, a liquid alternatives provider in which KKR is a strategic partner, and the board of FS KKR Capital Corp., a business development company which trades on the NYSE. Prior to joining KKR, he served as president of Highbridge Capital Management and CEO of Highbridge’s hedge fund business.
KKR currently manages approximately $50 billion in private wealth assets through relationships with distribution partners and a network of financial advisors and RIAs. KKR said that in recent years, between 10 and 20 percent of new capital raised annually by the firm has come from private wealth. The company expects it 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.”
KKR’s private equity, credit and real estate investments are accessible for individual investors through a number of KKR-sponsored and third-party continuously offered registered funds.
