Kravis Gives $100 Million for Rockefeller Manhattan LabDevin Banerjee
KKR & Co.’s Henry Kravis and his wife Marie-Josee are giving $100 million to Rockefeller University to help create a laboratory building in Manhattan.
The gift, from the Marie-Josee and Henry R. Kravis Foundation, will help fund the building over Manhattan’s FDR Drive, according to a statement from the school Wednesday. The Kravis Research Building will span three blocks along New York’s East River.
The lab “will help us stay at the cutting edge of scientific discovery and enable us to continue to recruit top faculty by providing them with the facilities they need to make transformative discoveries,” Marc Tessier-Lavigne, the university’s president, said in the statement.
The gift is the latest by billionaires who earned their wealth from private equity investing. Steve Schwarzman, the co-founder of Blackstone Group LP, last week gave $150 million to Yale University, his alma mater, for a new student center. Carlyle Group LP’s David Rubenstein has given tens of millions to Duke University, where he chairs the board of trustees.
Kravis, 71, pledged $100 million in 2010 to Columbia Business School, from which he graduated. Kravis, the vice-chair of Rockefeller University’s board of trustees, is worth $5 billion, according to the Bloomberg Billionaires Index.
He founded New York-based KKR in 1976 with his cousin George Roberts and Jerome Kohlberg. The firm manages about $100 billion in private equity, credit, real estate and hedge fund assets.
Rockefeller University is a school and research center for biomedical sciences, chemistry, bioinformation and physics, according to its website.
“These new laboratories have been designed to enable scientists to work seamlessly with colleagues both within and beyond their fields,” Kravis said in the statement.