KKR’s Pete Stavros - a culture of ownership - live from AGM’s RIA Field Trip

The episode is a live conversation with KKR Co-Head of Global Private Equity Pete Stavros, recorded during AGM's RIA Field Trip at KKR's New York studio. It covers KKR's culture of ownership, broad-based employee ownership in portfolio companies, and how Stavros frames culture and a scaled platform as competitive advantages in private equity. The discussion also touches on the CoolIT exit and employee payouts, and the ripple effect of employee ownership in the industry.

1. Stavros described KKR's "we not I" culture and said the most important private equity trend going forward will be a shift from "balance sheet and income statement arbitrage to total cultural transformation."
2. The conversation covered KKR's Broad-Based Employee Ownership program, including the CoolIT exit described in the material as a 14x, $4.75B exit with cash payouts to all 650 employees ranging from about one year to more than eight years of
3. Stavros discussed the power of a scaled platform, the importance of division of labor as firms grow, and what he means by "persistence in process."
4. The episode addressed how sharing equity ownership can be used to change culture and why encouraging people to act like owners matters for employee retention and productivity.