US Private Markets Giant Expands Again in Zurich
KKR entered the Swiss market in December 2023 quickly ramping up its local presence. Now, the private markets giant is already moving into the second phase of its expansion strategy.
Markus Egloff recently returned to familiar territory. The St. Gallen native and former UBS executive was in Zurich for strictly business-related reasons.
Based in London, Egloff leads KKR’s international expansion of its wealth business outside the United States. He joined KKR four years ago as the first non-U.S.-based member of a private wealth unit comprising just ten professionals. «At the time, we had no offering for international private clients, no distribution partnerships with private banks—not even a marketing team,» he recalls.
Despite the modest starting point, KKR had already amassed over half a trillion dollars in assets under management—without traditional advertising or active outreach to private clients.
Markus Egloff. (Image: Provided)
The launch of KKR’s wealth business marked a strategic shift. Marketing and education—particularly for advisors and clients new to private market investing—were identified as essential drivers of future growth. Since then, the wealth platform has evolved significantly, with Switzerland emerging as a key market. The firm opened its Swiss office in 2023 and works closely with local private banks on distribution efforts.
The firm made its first local hires in November last year. Now, a second wave is imminent: up to two additional positions will be created in Zurich this year to support the Swiss wealth effort. The new hires will help strengthen partnerships with private banks across the country and bring KKR’s global wealth products onto the shelves of smaller institutions. «We want to continue growing sustainably in Switzerland,» says Egloff.
