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Eric Mogelof

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63
first
2025-05-19
most recent
2025-05-19
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1
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podcast

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  1. “As you are trying to service that client base, you mentioned the intermediaries and then self directed two can be very different decision making units. How do you think about putting that together and trying to figure out what they want and need?”

    2025-05-19 · Capital Allocators · Eric Mogelof – KKR's Pivot to Private Wealth (Private Wealth 3, EP.446) · IDENTIFIED FROM THE TRANSCRIPT · source

  2. “But most individual investors can give up some liquidity. And for those investors that have longer horizons, they should be able to benefit from exposure to private markets. Based upon our conversations with wealth platforms and advisors, we think that 2% to 3% should ultimately be 10, 15 plus percent. And if you were to do the numbers, that just means that there's literally trillions of dollars of money that's in motion. And that doesn't even incorporate some of the other pockets of wealth that you might see, for example, in defined contribution and 401k space. Hard to put a number on it, but I would tell you that it's an enormous opportunity over the next five to ten years.”

    2025-05-19 · Capital Allocators · Eric Mogelof – KKR's Pivot to Private Wealth (Private Wealth 3, EP.446) · IDENTIFIED FROM THE TRANSCRIPT · source

  3. “There are so many numbers that are painted out in the marketplace in terms of what the opportunity set could look at. Here at KKR, we're really focused on just delivering investment solutions to our clients. We don't measure success like in AUM perspectives. But if you were to try and size the market, here's the way I think about it. If you look at the typical institutional investor, you can see that they are allocated to alternatives and private markets anywhere from 20 to 30 to even 50% of their portfolios. If you look at the wealth market today, that number is two to three percent.”

    2025-05-19 · Capital Allocators · Eric Mogelof – KKR's Pivot to Private Wealth (Private Wealth 3, EP.446) · IDENTIFIED FROM THE TRANSCRIPT · source

  4. “I had been at PIMCO for 17 years. I never thought I was ever going to leave. But I got a call to meet some of the folks here at KKR. Part of my decision-making process was this idea that within the asset management and specifically within the wealth space, the demand for alternative investment solutions was only going up. So having an opportunity to work at a pure play asset manager that focused on alternatives was pretty exciting. Also, what was really exciting was if you looked at KKR five years ago, the firm really had built out world-class private equity infrastructure, real estate, and credit investment capabilities. But the firm really hadn't built out distribution to really take those investment solutions and deliver them to a broad array of investors. The opportunity was to come here and really help build out distribution, which included wealth management. It was pretty exciting to come here.”

    2025-05-19 · Capital Allocators · Eric Mogelof – KKR's Pivot to Private Wealth (Private Wealth 3, EP.446) · IDENTIFIED FROM THE TRANSCRIPT · source

  5. “That any asset manager is going to build a sales team that could touch every single one of those advisors. All of a sudden data, analytics, and marketing became much more important in figuring out how to engage with advisors and how to support advisors. And so that was some of the reasons why I started to get pretty excited about the wealth market.”

    2025-05-19 · Capital Allocators · Eric Mogelof – KKR's Pivot to Private Wealth (Private Wealth 3, EP.446) · IDENTIFIED FROM THE TRANSCRIPT · source

  6. “Financial advisors now have a much broader value proposition that they are holding out to their investors. Sure, they're building portfolios, but they're also providing financial advice and planning, tax perspectives. Sometimes there are financial concierge, sometimes a financial referee, an advisor, a therapist. And so for an advisor to be able to do all of those things, they really need to evolve the way they do the first part of that job, which is to build portfolios. There they're starting to rely much more on model portfolios, advice, and support. That was one really big change that we started to see five, ten plus years ago. The second change really relates to how asset managers engage with the financial advisors and financial intermediaries. In the U.S., there's over 300,000 financial advisors. It's unlikely.”

    2025-05-19 · Capital Allocators · Eric Mogelof – KKR's Pivot to Private Wealth (Private Wealth 3, EP.446) · IDENTIFIED FROM THE TRANSCRIPT · source

  7. “Sure, one of the reasons why I really loved getting into the wealth market was because at the time I moved over to lead wealth, the market was really changing. There was this real important inflection point. We talk sometimes about this idea of wealth going from 1.0 to 2.0, but the intermediaries and financial advisors all started to become much more sophisticated when it comes to portfolio construction and asset allocation. Also at the time we started to see this real transition of financial advisor business models. If you think about it years ago, most financial advisors were really portfolio managers. They would develop portfolios for their individual clients, usually an incorporated individual equities, individual bonds, and they were really portfolio builders. If you fast forward, we're really seeing business models change dramatically.”

    2025-05-19 · Capital Allocators · Eric Mogelof – KKR's Pivot to Private Wealth (Private Wealth 3, EP.446) · IDENTIFIED FROM THE TRANSCRIPT · source

  8. “Advice. Obviously, in the asset management business, for the most part, the focus is usually on the first two categories, but over time, you might see different people focusing on different parts of that market.”

    2025-05-19 · Capital Allocators · Eric Mogelof – KKR's Pivot to Private Wealth (Private Wealth 3, EP.446) · IDENTIFIED FROM THE TRANSCRIPT · source

  9. “Interesting when people say wealth, it means something different to different people. In my book, there are really three components to the wealth market. There is what I would call the ultra ultra high net worth family office component. Those are typically professional buyers of investment solutions. They tend to have their own infrastructure, their own CIOs, and in a lot of ways make decisions like institutional investors. The second category that we think about in wealth is the wealth that's financially intermediated. So we think of those individual investors that utilize financial advisors or financial consultants or some type of platform to help with investment management. And then the third category that I would consider is a self-directed individual investor. So those investors don't use any formal financial”

    2025-05-19 · Capital Allocators · Eric Mogelof – KKR's Pivot to Private Wealth (Private Wealth 3, EP.446) · IDENTIFIED FROM THE TRANSCRIPT · source

  10. “Absolutely. It was a little bit of a longer journey for me. Out of college, I went to work on Wall Street. I went to work in investment banking and then private equity. And the things I really liked about both were the engagement with clients. And so I headed back to business school. And when I tried to figure out, quote, what I was going to do with my life, I decided, hey, I want to work with clients and I ended up joining Pimco as a relationship manager. And at first, I started out on the institutional side covering pension plans, foundations, endowments and insurance companies. And I got to learn about how institutional investors think and act, asset allocation, and portfolio construction. And over time, I migrated from that role to another role, but eventually ended up leading wealth in the US for PIMCO. And that's where it really got to learn about the wealth business. And it was probably my favorite job I had at the firm.”

    2025-05-19 · Capital Allocators · Eric Mogelof – KKR's Pivot to Private Wealth (Private Wealth 3, EP.446) · IDENTIFIED FROM THE TRANSCRIPT · source

  11. “Please enjoy my conversation with Eric Mogulov. Eric, thanks so much for joining me. Oh, Ted, thank you very much for having me. I'd love to have you take me through your path to getting into private wealth.”

    2025-05-19 · Capital Allocators · Eric Mogelof – KKR's Pivot to Private Wealth (Private Wealth 3, EP.446) · IDENTIFIED FROM THE TRANSCRIPT · source

  12. “Behind evergreen structures and interval funds, an importance of brand customized products and advisor education. Eric shares how KKR is investing in marketing, digital engagement, and on-the-ground sales to reach advisors globally and the firm's partnership with Capital Group to expand access for non-accredited investors. We also covered the competitive landscape and the opportunities and challenges of making alternatives more accessible to a broader range of investors. Before we get to the interview,”

    2025-05-19 · Capital Allocators · Eric Mogelof – KKR's Pivot to Private Wealth (Private Wealth 3, EP.446) · IDENTIFIED FROM THE TRANSCRIPT · source

  13. “Guest on the third episode of Private Wealth is Eric Mogulov, head of global client solutions at KKR, one of the world's leading alternative asset firms with roots in private equity dating back to 1976. KKR currently manages $640 billion in assets across approximately $250 billion in credit, $200 billion in private equity, and $160 billion in real assets. The firm's objective in private wealth is to deliver the same strategies, performance, and quality of experience to individuals as it does institutions. Our conversation shares how a long-standing brand in private equity has adapted to serve the wealth channel in the last five years. We trace Eric's path to KKR after a long run leading private wealth at PIMCO, the growing demand for alternatives among individual investors, innovation,”

    2025-05-19 · Capital Allocators · Eric Mogelof – KKR's Pivot to Private Wealth (Private Wealth 3, EP.446) · IDENTIFIED FROM THE TRANSCRIPT · source