In this episode, Scott Becker discusses KKR and Blackstone’s struggles amid market downturns and Intuitive’s success with its Da Vinci surgical robots.
Chapter 1: What companies are discussed in this episode?
This is Scott Becker with the Becker Private Equity and Business Podcast. Here we're going to discuss KKR, Blackstone, and Intuitive. So these are three of the companies that we watch closely. KKR and Blackstone to give me a sense of what's going on in the private equity markets.
Chapter 2: What is Intuitive's success in the healthcare market?
Intuitive because they're close colleagues and we've watched them for a very long time and we're huge fans of their CEO, Gary Guthardt. So Intuitive is the maker of the robotic surgery da Vinci robot. And I'll start there. They're sort of the pioneer leader in this. They're up 30% over the last year in one of the big bright spots in healthcare. So that's what's going on with Intuitive.
Chapter 3: Why are KKR and Blackstone struggling in the current market?
KKR and Blackstone are more reflective of the fact that private equity funds are having a hard time getting exits done at the right prices. And so that's where they're at and what's going on there. So to give you a sense of that, KKR is now down 20% year-to-date. Blackstone is down 14% year-to-date. Each of these firms are wildly successful, wildly famous. KKR was one of the original big PE funds.
Blackstone is the largest alternative asset manager PE funds. Again, Blackstone down 14% year-to-date. KKR down 20% year-to-date. Intuitive, one of the few big bright spots in healthcare, up 30% over the last year. I'll also note one of our other favorites that we watch because of a close colleague at Bernstein, Alliance Bernstein.
And Alliance Bernstein outperforming its asset class a little bit, up about 4% year-to-date. Thank you for listening to the Becker Private Equity and Business Podcast. And also, a giant thank you to the audience, to the listeners, to Chanel Bunger. The podcast is ranked today first in the nation under the business news category at Apple.
The other podcasts in the top five are all Wall Street Journal podcasts and Bloomberg podcasts and great company. Thank you for listening to the Becker Private Equity and Business Podcast.