Peter S. Kraus

Peter S. Kraus
Born	Philadelphia, Pennsylvania, U.S.
Occupation(s)	Entrepreneur, philanthropist, art enthusiast
Years active	1974–present
Known for	Chairman and CEO of Aperture Investors; former chairman and CEO of AllianceBernstein

Peter S. Kraus is an American entrepreneur, philanthropist, and art enthusiast who holds the positions of chairman and CEO at Aperture Investors, an asset management company he established in 2018. Between 2008 and 2017, Kraus served as chairman and CEO of AllianceBernstein (AB), a global investment firm managing approximately US$400 billion in assets, publicly traded on the New York Stock Exchange under the ticker . Before that tenure, he dedicated twenty years to Goldman Sachs. Additionally, he ranks among the foremost collectors of contemporary art worldwide.

Early life

Hailing from Philadelphia, Pennsylvania, Kraus completed his Bachelor of Arts degree at Trinity College in 1974, followed by an MBA from the New York University Stern School of Business in 1975.

Career

Kraus spent 22 years at Goldman Sachs before briefly assuming the role of executive vice president and head of strategy at Merrill Lynch from September to December 2008. During this short period, he received a total compensation of US$29.6 million, which included a US$25 million golden parachute that attracted attention from the New York Attorney General.

From December 2008 until May 2017, Kraus led AllianceBernstein as chairman and CEO, following Lewis A. Sanders. He joined the Axa Management Committee in April 2010 and earned US$52 million in his inaugural year at AB. Although the firm experienced notable asset outflows—declining from US$462 billion in December 2008 to US$402 billion by November 2011—Kraus was credited with restoring stability. By late 2016, AB’s assets under management had climbed back to US$480 billion.

On May 1, 2017, Robert B. Zoellick was named chairman and Seth Bernstein appointed CEO at AB, succeeding Kraus. Denis Duverne, chairman of Axa’s board, commended Kraus for assembling a capable leadership team and positioning the company well for future growth.

Currently, Kraus leads Aperture Investors, launched in September 2018 with support from Assicurazioni Generali SpA, a prominent insurance and asset management firm. Aperture employs an innovative fee structure that links charges to performance: it applies ETF-like fees that increase only if portfolio managers surpass their benchmarks. Compensation includes a modest base salary paired with bonuses contingent solely on outperformance—a significant shift away from traditional fixed fees based on assets under management.

Philanthropy

Kraus serves as chair of the board of overseers at the California Institute of the Arts in Los Angeles. He also co-chairs Friends of Carnegie International, an annual North American art exhibition, and holds a position on the board of directors at the Lincoln Center for the Performing Arts in New York City.

Personal life

Kraus is married to Jill Kraus, who chairs the Public Art Fund. The couple resides in a five-bedroom apartment at 720 Park Avenue on Manhattan’s Upper East Side, acquired for US$37 million from Carl Spielvogel. In 2010, they were recognized among the top 200 contemporary art collectors worldwide. Their office displays artworks including a sculpture by Manfred Pernice and Su-Mei Tse’s video Les Balayeurs du désert.