2025 Annual Lewis H. Durland Memorial Lecture - Insights from a Private Equity Pioneer, Henry R. Kravis, co-Founder and co-Executive CEO, KKR

Henry R. Kravis

Co-Founder and Co-Executive Chairman

Kohlberg Kravis Roberts (KKR)

Henry Kravis is Co-Founder and Co-Executive Chairman of KKR, one of the world's largest investment firms with over $600 billion in assets across private equity, credit, real estate, and infrastructure.

Henry co-founded KKR in 1976 alongside George Roberts and Jerome Kohlberg. Together, they pioneered the private equity industry, transforming the financial landscape, how companies were run and how value could be unlocked in companies. Prior to his current position, he was Co-Chief Executive Officer until 2021.

Mr. Kravis currently serves on the boards of Axel Springer, ICONIQ Capital, LLC and Catalio Capital Management, LP. He also serves as a director, chairman emeritus, trustee or executive committee member of several cultural, professional, and educational institutions, including The Business Council (former chairman), Claremont McKenna College, Columbia Business School (former co-chairman), Mount Sinai Hospital, the Partnership for New York City (former chairman), the Partnership Fund for New York City (founder), Rockefeller University (former vice chairman), and Sponsors for Educational Opportunity (chairman).

He earned a B.A. from Claremont McKenna College in 1967 and an M.B.A. 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.

Andrew Karolyi

Charles Field Knight Dean, Harold Bierman, Jr. Distinguished Professor of Management

Cornell SC Johnson College of Business

Professor Karolyi is a scholar of investment finance with a specialization in the study of international financial markets. He has published extensively in journals in finance and economics, including the Journal of Finance, Journal of Financial Economics and Review of Financial Studies, and has published several books, including International Capital Markets (2003) and Cracking the Emerging Markets Enigma (2015). His research has been featured in print and electronic media, including The Wall Street Journal, Financial Times, The Economist, New York Times, Washington Post, Forbes, BusinessWeek, and many others.

Prior to serving as dean, Karolyi completed an eight-year term as editor and then executive editor of the Review of Financial Studies, one of the top-tier journals in finance. He has also served as an associate editor for a variety of journals, including the Journal of Finance, Journal of Financial Economics, Journal of Empirical Finance, Journal of Banking and Finance, Review of Finance and Pacific Basin Finance Journal. He is a recipient of the Michael Jensen Prize for Corporate Finance and Organizations (2017), the Fama/DFA Prize for Capital Markets and Asset Pricing (2005), the William F. Sharpe Award for Scholarship in Finance (2001), and the Johnson School's Prize for Excellence in Research (2010) and is a three-time winner of the School’s Global Award for Excellence in EMBA teaching.

He has led various executive education programs in the U.S., Canada, Europe, and Asia, and is actively involved in consulting with corporations, banks, investment firms, stock exchanges, and law firms. Karolyi is chair of the board of directors of Responsible Research in Business and Management (RRBM) and vice chair of the UN’s Principles for Responsible Management Education (PRME), an initiative of the UN Global Compact. He also serves as a Global Advisory Councillor for Accounting for Sustainability (A4S), one of HM King Charles III Charitable Funds. He currently serves as a director of the American Finance Association, is past president of the Western Finance Association, and is past chairperson of the board of trustees and past president of the Financial Management Association International.

Karolyi received his BA (Honors) in economics from McGill University and worked at the Bank of Canada for several years in its research department. He subsequently earned his MBA and PhD degrees in finance at the University of Chicago’s Booth School of Business.