20VC: Inside KKR's Monster $8BN European Fund | The $500M Turkey Gamble That Went Wrong | Do Andreessen & General Catalyst Scare KKR? | Will AI Kill the PE Model? | Can The PE Model Survive without IPOs and Where is the Liquidity with Philip Freise

I'm a free marketeer. I think tariffs are not the answer. We need to work on the underlying issues in our Western democracies. To try to raise money through tariffs is not the right approach. In Turkey, I think we lost around 500 million.

What we didn't see was rule of law was a bit of a flexible concept there. And quite frankly, we have so much going on in Western Europe. We just don't take the risk. We stay close to what we can control. Do you believe the US dollar will be the reserve currency of the world in ten years?

You are listening to 20 VC with me, Harry Stabbings, and we have a Titan of the private equity and growth world joining me in the show today. We have Philip Frees, co-head of European private equity at the monster that is KKR. At KKR, Philip manages the largest private fund in Europe with 8 billion billion dollars in the fund just for Europe at KKR Philips led investments in FGS Global, Superstruct, Ass or Springer, BMG Rights Management, Get Your Guide, who we just had on the show, and many more. Now this was an incredible show that spanned everything from aging demographics to the rise of China in Europe

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