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KKR sounds major market warning

Scott Nuttall, head of global capital and asset management at KKR, had a stark warning for Wall Street analysts during his firm's Q1 earnings call:

QuoteWe are late cycle.

Nuttall added that this sentiment is why KKR has become a net seller in the U.S. and Europe. The one geographic exception for KKR is Asia, particularly when it comes to corporate carve-outs in Japan.

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