#26 - The Cutting Edges of Private Equity (feat. Daniel Pietrzak, Partner and Co-Head of Private Credit at KKR)

This episode of Investing In Integrity features a highly respected leader in Private Equity, Daniel Pietrzak. Daniel is a Partner at KKR where he co-leads the firm's private credit funds with about $72B in assets under management. Daniel recently launched a $2.1B asset-based finance fund, which is the firm’s first fund which finances assets secured against collateral-based cash flows, like consumer mortgages and commercial leases. Daniel not only takes us through the backstory of launching a new fund and building a team; he explains how his fund operates at the cutting edge of Private Equity, which he says is about “financing the real-world economy,” more than the traditional buy-and-flip model. Throughout the episode, Daniel offers insightful, first-hand advice for anyone interested in a career in PE or a top-tier firm like KKR. He explains how KKR looks for “dynamic athletes” and talks about the importance of being both well-read and speaking up to share points of view. A seasoned leader, and Advisor to Scholars of Finance, Daniel shares wisdom into the leadership principles and practices which have helped him to succeed, from the importance of education to the necessity of humility. The first in his family to attend college, Daniel shares an inspiring story–both of his own career journey and of the rapidly-evolving landscape of PE in finance. We hope you enjoy this conversation! 00:00 - Intro 2:42 - Daniel’s Story 14:25 - KKR and Daniel’s Role 19:47 - Private Equity 31:00 - Rapid Fire