Capital Markets

KKR Names Successors To Co-Founders Henry Kravis, George Roberts

Iconic Private Equity firm Kohlberg Kravis Roberts i.e., KKR, has appointed two executives to succeed co-founders Henry Kravis and George Roberts, in what the FT dubs is a "rare move for an industry where succession plans have not been set out publicly."

China Small Caps Crash To Lowest Since 2015 Amid Deleveraging "Selling Panic"

Overnight China's Shanghai Composite slumped by 1.4%, the most since December driven by a plunge in the small-cap ChiNext index, which tumbled by 5.1%, and is now down 16% in 2017 to levels not seen since January 2015 following a fresh round of broad deleveraging as "regulatory tightening concern prompted major shareholders to cut holdings quickly, triggering a selling panic."

One Hedge Fund CIO's Conversation With His Uber Driver

“Paying my way through college,” said my Uber driver. I was asking about his life. “My girlfriend pays most of our rent.” She’s carrying $150k in college debt. Four years of university, one year abroad. Spain. Then graduate school. I asked what he’d do with his degree? “No idea. I just don’t want to graduate with that much debt.”

Goldman Warns Of Rising "Shock" Risk To Risk Parity Investors

"We think it is likely that bonds will be worse hedges for equity as rates are currently part of the risk to equity, rather than the support. For risk parity investors this is particularly problematic as low equity volatility has likely driven higher equity allocations, and so shocks driven by real rate increases will be amplified in their portfolios."