Early Life
Henry Roberts Kravis was born in Tulsa, Oklahoma, on January 6, 1944. He attended Claremont McKenna College, earning a bachelor's degree in economics, and later pursued an MBA at Columbia Business School. Kravis's early life provided a foundation for his future career, with his education and early experiences setting the stage for his success in finance.
Rise to Success
Kravis began his career at Bear Stearns, where he worked alongside Jerome Kohlberg Jr. and George R. Roberts. Together, they started a series of investments that became the foundation of Kohlberg Kravis Roberts (KKR) in 1976. KKR quickly became a leader in leveraged buyouts, completing several high-profile deals, including the RJR Nabisco acquisition in 1989, which was the largest leveraged buyout in history at the time. Kravis and Roberts gave up their co-CEO titles in 2021 and now serve as executive co-chairs.
Key Business Strategies
Kravis's business strategies centered around identifying undervalued companies, restructuring their balance sheets, and improving operational efficiency to increase their value. KKR's approach included the use of debt financing (junk bonds) to acquire companies and later sell them for profit. KKR diversified its business beyond traditional private equity, moving into credit, real estate, infrastructure, and insurance to create more resilient revenue streams.
Philanthropy
Beyond his business accomplishments, Kravis has made substantial contributions to various philanthropic causes. He established the Henry R. Kravis Prize in Nonprofit Leadership, the New York City Investment Fund (now the Partnership Fund for New York City), and contributed to educational and cultural institutions, including the Mount Sinai Medical Center, the Museum of Modern Art, and Columbia Business School.
