• "I'm a big believer that this AI is a very unique technology... but it's not to say that things can't get overvalued and I think we're at a time in digital where there is a little bit of in pockets maybe big pockets overvaluation." - Mike Dorrell [04:40]

• "What we're trying to do is we're trying to give investors a more boring way to play that…

• "I think what it takes for success in building an evergreen fund is fundamentally totally different than success in draw down funds... deal quality is important, it's probably the smaller contributor to returns overall relative to portfolio construction and overall ability to have enough deal flow to keep an evergreen Fed..." - Mike Tri [00:02:41]

• "Not every firm…

• "Building diversified portfolios for wealth clients using the classic drawdown structures that institutions use is almost impossible to do at scale..." - Jake Elmhurst [00:03:20]

• "We used to get complaints... why is it that this foot of paperwork comes through the letter box and kills the cat every time we need to subscribe to a fund?" - **Jake…

1. Executive Briefing (TL;DR)

• Shift from Invention to Execution: The primary bottleneck in enterprise AI adoption has transitioned from model capability and raw technology to implementation, operational integration, and change management capacity [00:01:51].
• Establishment of OpenAI Deploy Co: OpenAI, in partnership with Brookfield and other…

• "this notion that the semi-liquid nature of these things is somehow inherently bad i don't see that at all... i actually see that structure is what makes these structures able to compound through cycles over time" - Farhad Karim 00:30:06

• "sometimes people think access is like being simple and and I find that a little condescending but it's how do…

1. Executive Briefing (TL;DR)

• The Core Thesis: Man Group, one of the world's largest active asset managers, has experienced a massive 86x explosion in internal generative AI token consumption since January 2026. This exponential growth reflects a structural shift from basic query-and-response behavior to highly autonomous, cross-departmental agentic workflows that code software, synthesize multi-modal…

• Raj Agrawal: Head of Real Assets at KKR.
• James Foy: Host / Interviewer, Principal on the KKR Infrastructure team.

Topic 1: Navigation and Outlook of the Real Estate Sector

• The Challenging Macro Environment: The speakers emphasize that real estate has experienced a uniquely agonizing period, stating that no other sector has gone through as much pain over the last 5 to 10 years…

• Raj Agrawal: Head of Real Assets at KKR.
• James Foy: Host / Interviewer, Principal on the KKR Infrastructure team.

1. Genesis & Strategic Rationale of KKR Infrastructure (2006–2008)

• The GFC Inflection Point: Raj Agrawal joined KKR in 2006 [00:01:58]. By 2007–2008, when the Global Financial Crisis (GFC) materialized, established market…

"The number one priority for us is to continue to deliver exceptional returns for our clients. If we don't do that, we don't have a business." - Jean Salata [00:02:22]

"Our infrastructure business is kind of multifaceted. It's not just data centers, it's also energy and connectivity and digital connectivity, and we kind of wrap that around…