Henry Kravis, Wall Street Legend, Visits NYU Stern

	(from l-r) Mr. Al Berrios, BS '00, Mr. Henry Kravis, Deputy Dean Russell Winer and Professor Jeffrey Robinson

NYU Stern’s Berkley Center for Entrepreneurial Studies recently hosted Mr. Henry Kravis, co-founder of Kohlberg Kravis Roberts & Co., the private equities firm that was instrumental in legitimizing the use of leveraged buy-outs for underperforming organizations.  Jeffrey Robinson, Stern assistant professor of management, conducted a candid interview with Mr. Kravis in front of an audience of 150 students and alumni.    

Mr. Kravis described his childhood growing up in Oklahoma and the influence of his parents, who encouraged him to become involved in the community, a value that has remained important to him throughout his life.  He also spoke about his early professional years as a runner at Goldman Sachs, which marked the start of a soon-to-be very successful career on Wall Street.  He spoke about the launch of Kohlberg Kravis Roberts & Co. (KKR), which to date has acquired more than 130 companies worth approximately $165 billion, including one of its most well-known acquisitions, RJR Nabisco.  He attributed his company’s success to many factors, but emphasized the value of working with creative, modest people who possess the drive and ambition to create value.

Mr. Kravis then touched on his many philanthropic efforts and his desire to continue to give back to the community.  He specifically spoke about his project to help inner-city students achieve academic success as well as his initiative to further develop the number of industries doing business in New York City.  Through his philanthropy, Mr. Kravis, with the cooperation of the public and private sectors, hopes to create jobs while enhancing the small business sector.

He then took questions from the audience, addressing his company’s recent acquisition of Toys R Us and his vision for its turnaround.  He also touched on KKR’s newest endeavor, the expansion into the Asian market with the opening of offices in Hong Kong and Japan.

NYU Stern wishes to thank Al Berrios, B.S. ‘00, for his support in making this event possible.