The New York City Investment Fund is a private fund with a civic mission. The fund was the vision of Henry R. Kravis, founding partner of Kohlberg Kravis Roberts & Co., who serves as its Founding Chairman. His goal was to mobilize the city’s financial and business leaders to help build a stronger and more diversified local economy. To that end, the Fund has built a network of top experts from the investment and corporate communities who help identify and support New York City’s most promising entrepreneurs in both the for-profit and not-for-profit sectors. All Investment decisions are made by the Board of Directors, which is co-chaired by Russell L. Carson of Welsh Carson Anderson and Stowe and Richard M. Cashin of One Equity Partners and Founding Chairman Henry R. Kravis.
The Fund was established in late 1996, under the auspices of the nonprofit The Partnership for New York City. It was initially capitalized by contributions of $1 million each from individual and corporate investors, who invested for the good of the city and without expectation of financial returns. It is an evergreen fund, in which realized gains are reinvested in other worthwhile projects. The Fund has raised in excess of $110 million and has invested in more than 100 projects.