Capital Allocators – Inside the Institutional Investment Industry Kipp deVeer – Scaling for Private Wealth Globally in Credit (Private Wealth 5, EP.449)
Jun 2, 2025
Kipp deVeer, Co-President of Ares Management, shares insights from a firm managing $500 billion in alternative investments. He discusses the rising trend of private wealth and the integration of institutional practices in this space. The conversation covers Ares’ strategic acquisitions, credit-centric approach, and brand-building efforts. DeVeer highlights the importance of disciplined underwriting and navigating global market dynamics, particularly in Europe and Asia, while also reflecting on personal growth and challenges in balancing family and work.
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Ares' Entry via Acquisition
- Ares started focusing on the private wealth market about six or seven years ago via acquisition.
- They acquired Black Creek, which brought a 75-person retail and wholesaling team, jumpstarting growth.
Need for Diversification in Wealth
- Blackstone dominated the private wealth channel with roughly 60-65% market share early on.
- Financial advisors desire diversification, creating opportunity for competitors like Ares to grow.
Staff Locally for Global Growth
- Expanding globally requires dedicated personnel in key regions like Europe and Asia.
- Hiring locally helps capitalize on geographic growth potential in wealth channels.