Our European Equity investment style focuses on Quality stocks, ESG, business models, and financial terms. Yet Chart 1 also reminds that value stocks do tend to lead in recoveries, such as the more modest value rotation following the 2008 GFC.
We do not expect the next style rotation to offer the type of drama seen in 2000. But it was not a straight line! A history of the relative performance of the two styles since before the dotcom bubble offers a remarkable insight.
The Value style has suffered from low and falling interest rates. Our current portfolio is accessible here.Since the Global Financial Crisis, Growth equities have significantly outperformed Value equities in Europe. Since 2014, the firm has executed a number of transactions as part of the firm’s growth equity strategy, including DarkTrace, FanDuel, GetYourGuide, KnowBe4, OneStream, OutSystems, PolicyGenius, ReliaQuest, Slice, and Zwift. Additionally, our portfolio companies have access to the operational experience of KKR Capstone. Tech Growth transactions tend to involve smaller equity investments, have structured downside protection, limited leverage and take on execution risk as opposed to fundamental technology risk.īeyond access to financial capital, KKR offers the companies we partner with access to our substantial network, industry expertise, M&A support, global reach, and insights from our global Private Equity portfolio which has more than 100 current portfolio companies worldwide, translating into over $7 billion in Information Technology spend and over $10 billion in marketing spend annually. We focus on emerging, high-growth companies and invest across a variety of sub-segments including Software, Security, Semiconductors, Consumer Electronics, Internet of Things (IoT), Information Services, Business Services, Internet, Digital Media, Content and Communications.
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