Capital Allocators – Inside the Institutional Investment Industry 2023 Top Episode #3: Kipp deVeer – The World of Private Credit at Ares, EP.329
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Dec 27, 2023 Kipp deVeer, Director and partner at Ares Management, dives into the dynamic world of private credit. He shares his evolution from Wall Street to Silicon Valley, navigating career challenges and personal growth. Kipp discusses the maturation of private credit as an asset class, exploring current trends and investor perceptions. He highlights the significance of scaling success and operational efficiency, while also covering risks and investment opportunities in a tightening market. Personal insights reveal his love for skiing and the impact of mentorship on his journey.
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The Ares Way
- Prioritize building a culture of partnership and collaboration within your firm.
- Focus on people and fostering a collaborative environment for information sharing.
Ares Underwriting Process
- Ares' underwriting process involves detailed memos and open investment committees.
- This promotes collaborative vetting and learning from experienced professionals.
Defensive Industry Focus
- Prioritize downside protection by focusing on companies with inelastic demand curves.
- Avoid overpaying for yield in risky sectors and prioritize defensive industries.