Henry Kravis ’69, founding partner of Kohlberg Kravis Roberts & Company and founder and chairman of the New York City Investment Fund
The Botwinick Prize in Business Ethics recognized Henry Kravis and the New York City Investment Fund for their commitment and creative approach to job creation and economic development within New York’s five boroughs. Kravis’ vision is today’s reality: an innovative funding organization and model—part philanthropic, part investment vehicle—to galvanize top business leadership on behalf of the City’s up-and-coming entrepreneurial talent.
|Botwinick audience with Henry Kravis|
Professor Meyer Feldberg, dean of Columbia Business School, stated, “Henry’s establishment of the New York City Investment Fund has made a difference in people’s lives. What is so extraordinary about Henry is his leadership. He understands that, working together, we can all make a larger impact. His strategic and creative ideas, as well as his vision and energy, bring people together for the economic and social benefit of our entire city.” Professor Feldberg continued, “I am proud that Henry Kravis—an alumnus and member of Columbia Business School’s Board of Overseers—is receiving this well-deserved honor.”
Created in 1996, the New York City Investment Fund has attracted 64 investors to date, a veritable who’s who of New York’s global leaders in business and finance. Each investor contributes $1 million—to a venture that requires their time and influence, as well as their money. In addition, the fund has more than 200 expert volunteers who serve on a network of six industry sector groups that carry out the fund’s activities and invest in the revitalization of distressed neighborhoods of New York City. The fund has already reviewed over 500 proposals and committed funds to 20 projects.
After receiving his MBA at Columbia Business School, Mr. Kravis worked in the corporate finance department of Bear, Stearns & Co., Inc. from 1970 to 1976, and he became a partner in 1975. In 1976, he and two partners founded Kohlberg Kravis Roberts & Co., a merchant banking firm that pioneered the development of the leveraged buyout.