KKR has reached its diversity target with 80% of its controlled companies now having at least two board directors from diverse backgrounds, co-CEO Henry Kravis revealed in a CNBC interview. The private equity firm achieved this milestone in the first quarter, several years after establishing the initiative.
“It has to start at the top. If it’s not a priority for a CEO, it’s not going to happen in my view,” Kravis told CNBC’s Seema Mody on “The Exchange.” “At KKR…it’s been a priority for a while. We want diversity of gender, ethnicity and thought, and we get better thinking and working environment if you have that diversity.”
Beyond boardrooms: KKR’s broader diversity efforts
The $459 billion investment firm has complemented its board diversity push with programs like unconscious bias training and longstanding support for Sponsors for Educational Opportunity (SEO), where Kravis has served as board chair.
SEO operates two flagship programs: a college prep initiative for low-income high school students with a 90% success rate, and a career program that places minority graduates at top Wall Street firms including KKR, JPMorgan, and Carlyle.
Wall Street’s diversity challenge
The financial sector continues to grapple with limited representation, with Deloitte data showing minorities hold fewer than 17% of board seats at financial services companies. Mercer research reveals a wider corporate America pattern: while 64% of entry-level workers are white, this climbs to 85% in executive positions.
SEO CEO William Goodloe reported increased demand from investment firms like Silver Lake Partners, particularly following nationwide protests after George Floyd’s death that intensified scrutiny on corporate diversity practices.
KKR maintains active investment pace amid pandemic
The diversity achievements come as KKR remains active in dealmaking, having deployed $18 billion since the COVID-19 outbreak began. Recent investments include cosmetics company Coty and India’s digital giant Jio.
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