Investment Firm KKR Launches $50 Million COVID-19 Relief Fund

Investment Firm KKR Launches $50 Million COVID-19 Relief Fund

Global investment firm KKR & Co has announced the creation of a $50 million COVID-19 relief fund, Forbes reports.  

The KKR Relief Fund will support first responders and health workers on the front lines of the pandemic as well as financial relief efforts targeting workers and small businesses in communities where the firm invests. In a letter obtained by Forbes, KKR co-founders Henry Kravis and George Roberts and co-presidents Joseph Bae and Scott Nuttall told investors they would forego any end-of-year bonuses and their remaining salaries for 2020.

"The capital for the KKR Relief Fund will be funded by significant contributions by executives across the firm, in addition to direct support from KKR," said Kravis, Roberts, Bae, and Nuttall. "As part of this important initiative, we feel it is appropriate that the four of us forego any further salary as well as annual bonuses in 2020."