Skip to main content

Alternative Credit News, Hedge Fund News, Private Equity News

KKR Relief Effort Awards Third Round Of Grants

KKR has announced the recipients of the third round of the firm's KKR Relief Effort grants. The grants are awarded through its two cornerstone programs: KKR Small Business Builders (SBB) and KKR Grants. Through these programs, which launched last year to support those impacted by the COVID-19 pandemic and its resulting economic dislocation, KKR and its employees have supported 159 small businesses with support programs and grants of $10,000 each and has provided funding to 82 nonprofits to date.

“Our communities and small businesses continue to face enormous uncertainty and the disruption of the past year will have lasting impacts that must not be overlooked. We are pleased to announce the latest group of small business and nonprofit recipients through the KKR Relief Effort and we plan to continue these programs in order to be part of the recovery and resiliency our communities need,” said Ali Hartman, KKR’s Head of Global Citizenship.

The third round of the KKR SBB program awarded $10,000 to 52 small business owners across 22 states. These grants are intended to drive growth and can be used to support the business’ daily operations, help them retain or rehire employees or pivot in response to the pandemic. The businesses in this round are 52% women-owned, 56% are minority-owned and 23% are owned by veterans or their immediate family members. All of the businesses have fewer than 40 employees and over 81% generated less than $1mn in 2019 gross revenue.

The KKR Grants program awarded more than $3.5mn to 22 nonprofits in the latest round. The recipient organizations are based in US, UK, France, Ireland and India and their missions are aligned with the KKR Relief Funds’ focus on supporting communities, creating meaningful workforce opportunities and helping our frontline heroes.

KKR Grants is also investing in an accelerator model across each of its core regions. In collaboration with Echoing Green (Americas), Impetus (EMEA) and the Asian Venture Philanthropy Network (AVPN) (APAC), KKR will support social entrepreneurs and changemakers working at the intersection of COVID-19 and youth leadership. Working with these partner organizations, KKR will invest money in leaders and nonprofits on the front lines, while also creating the resources and wraparound services needed to help accelerate change and impact.

KKR SBB and KKR Grants are available to organizations around the world with recipients selected in rounds on an ongoing basis.

© The Sortino Group Ltd

All Rights Reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or scanning or otherwise, except under the terms of the Copyright, Designs and Patents Act 1988 or under the terms of a licence issued by the Copyright Licensing Agency or other Reprographic Rights Organisation, without the written permission of the publisher. For more information about reprints from AlphaWeek, click here.