The Marie-Josée and Henry R. Kravis Foundation have provided a $1.8 million gift to New York University Stern School of Business. The gift will establish The Marie-Josée and Henry R. Kravis Family Scholarship to support high-achieving, low-income students who are admitted to Stern’s Undergraduate College for Fall 2016. Recipients will be known as The Marie-Josée and Henry R. Kravis Scholars.
March 28, 2016 12:30 PM Eastern Daylight Time
NEW YORK–(BUSINESS WIRE)–Today New York University Stern School of Business announced the establishment of The Marie-Josée and Henry R. Kravis Family Scholarship, made possible through a $1.8 million gift from The Marie-Josée and Henry R. Kravis Foundation. This scholarship will support high-achieving, low-income students who are admitted to Stern’s Undergraduate College for Fall 2016. Recipients will be known as The Marie-Josée and Henry R. Kravis Scholars.
“Addressing college costs and affordability are among my foremost priorities,” said Andrew Hamilton, President of New York University. “Next year, we will enact NYU’s smallest increase in undergraduate cost-of-attendance in more than 20 years. But even important steps such as that must be accompanied by improvements in scholarship aid. And so we are grateful to Marie-Josée and Henry Kravis for their generous gift, which will permit students filled with talent and ambition but lacking financial resources to obtain the NYU education of which they dream.”
The Marie-Josée and Henry R. Kravis Family Scholarship supports NYU’s “Momentum Campaign” to raise $1 billion in six years for scholarships. NYU recently passed the halfway point, raising more than $500 million to date. With this gift, Stern has now raised over $100 million in scholarship aid as part of NYU’s Momentum Campaign.
“Talent doesn’t correlate with zip code. This scholarship will help more talented men and women who lack resources pursue higher education,” said Henry Kravis, Co-Chairman and Co-CEO of Kohlberg Kravis Roberts & Co.
“At Stern, we have an opportunity to reshape the economics of education, and of business, when we create a pathway to college for high-achieving students who come from the bottom quartile of the income distribution,” said Peter Henry, Dean of NYU Stern. “Marie-Josée and Henry Kravis, through the generosity of their foundation, will make a lasting difference in the lives of these students, their families, and the companies they will someday lead.”
Henry Kravis co-founded Kohlberg Kravis Roberts & Co (KKR) as a private equity firm in the 1970s. Today, KKR is a global investment firm that manages investments across multiple asset classes, including private equity, energy, infrastructure, real estate, credit strategies, and hedge funds. In the 1980s, he and his wife established the Marie-Josée and Henry R. Kravis Foundation. Today, Kravis also serves as Chairman of the board of directors of Sponsors for Educational Opportunity, an organization whose mission is to provide talented and motivated young people from underserved and underrepresented communities with access to education and career opportunities.
Henry Kravis co-founded KKR in 1976 and is Co-Chairman and Co-Chief Executive Officer. He is actively involved in managing the firm and serves on regional Private Equity Investment and Portfolio Management committees. Mr. Kravis currently serves on the boards of First Data Corporation and ICONIQ Capital, LLC. He also serves as a director, chairman emeritus or trustee of several cultural, professional, and educational institutions, including The Business Council, Claremont McKenna College, Columbia Business School, Mount Sinai Hospital, Partnership for New York City, Partnership Fund for New York City, Rockefeller University, Sponsors for Educational Opportunity and Tsinghua University School of Economics and Management. He earned a BA from Claremont McKenna College in 1967 and an MBA from the Columbia Business School in 1969. Mr. Kravis has more than four decades of experience financing, analyzing, and investing in public and private companies, as well as serving on the boards of a number of KKR portfolio companies.
About New York University Leonard N. Stern School of Business
New York University Stern School of Business, located in the heart of Greenwich Village, is one of the nation’s premier management education schools and research centers. NYU Stern, whose faculty includes three Nobel Laureates in Economics, offers a broad portfolio of programs at the graduate and undergraduate levels, all of them enriched by the dynamism, energy and deep resources of one of the world’s business capitals. Visit www.stern.nyu.edu and follow NYU Stern on Twitter: @NYUStern.