Side Letter: KKR’s 2021 macro view, LACERA stresses the ‘S’ in ESG

It looks like sustainability (in various forms) will be a big winner from the global pandemic. Investors will be less tolerant of managers who don't consider their wider impact, while governments' fiscal looseness will provide an ESG boost, notes KKR's asset allocation chief Henry McVey. Here's today's brief, for our valued subscribers only.