When it comes to restructuring across the globe, there's one common theme: It's the age of the consumer. At least, that's the theory of one private equity expert.
In China, for instance, fixed investments are slowing, but the consumer market is really changing the economy, said Henry McVey, KKR head of Global Macro & Asset Allocation, on Wednesday.
"I think the anticorruption [policy] is really affecting demand, and new things like the Internet are creating issues where people are changing the way they're shopping," said McVey, who just returned from the world's most populous nation, where KKR has a portfolio of 16 companies with environmental, health-care, food safety and other high-value-added services. "Also, a lot of that fixed investment has created excess capacity in the consumer part."