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KKR co-founder Kravis named Sponsors for Educational Opportunity chairman

27 Jan 2014

kravisKKR co-founder Henry Kravis has been elected as chairman of Sponsors for Educational Opportunity (SEO), a charity which provides educational and career programmes to low-income students.

Kravis and his wife Marie-Josee donated $4m to the charity to double the number of student attending its college-preparation programmes, SEO CEO William Goodloe told Bloomberg.

The New York-based private equity firm partnered with SEO in 2009 and Kravis has been giving between $100,000 and $1m to the organisation annually since then, said Goodloe.

Goodloe said, “He’s taken an interest in meeting the individuals that we serve every year, answering every question and handing out his business cards.

“Over time he got to learn more about SEO and we had conversations around a more formal role that he could play.”

KKR has recently closed its new distressed lending fund targeting North American, European and Asian businesses with commitments of $2bn.

KKR raised $8.3bn for its latest flagship North American fund towards the end of last year, followed by completing a $1.5bn real estate fundraise.

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