UBS On-Air: Market Moves KKR and UBS views on public and private markets
13 snips
Feb 28, 2026 
Solita Marcelli, UBS investment leader focused on macro and public/private allocation, and Henry McVey, KKR macro and private markets strategist, discuss market shifts and where to find opportunities. They cover AI's structural impact, private credit trends, sector rotation and high-grading portfolios. They also explore Asia and India as innovation and consumption stories.
AI Snips
Chapters
Transcript
Episode notes
Trim Tech Exposure And Diversify Into Other Sectors
- Trim concentrated tech bets and diversify across sectors and regions as AI leadership broadens.
- Solita Marcelli says UBS trimmed technology and favors healthcare, financials, utilities, consumer discretionary, plus opportunities in Europe and Asia.
Regime Change Favors Nominal GDP Linked Assets
- Regime change reflects bigger fiscal deficits, geopolitics, messy energy transition, and stickier inflation.
- Henry McVey says that implies owning assets linked to nominal GDP and making operational improvements in private portfolios.
Prefer Operational Carve-Outs And Real Assets
- Seek private investments that rely on operational improvement and inflation protection.
- Henry McVey highlights corporate carve-outs, infrastructure and asset-based finance as ways to create returns beyond multiple expansion.