KKR’s Avi Korn Sees $500 Billion of Assets Leaving Banks

While US banks have already been offloading loans and rearranging their balance sheets, there’s still much more to come, according to Avi Korn, co-head of global asset-based finance at KKR & Co.

He estimates that about $500 billion more assets will leave banks and move to private funds. That can include real estate, auto loans and equipment leasing debt, among other forms of asset-based loans.

In the past couple of years, funds have raised less than $100 billion dollars to help mop these assets up, he said. “There’s still a lot of supply and opportunity,” Korn told Bloomberg over ...