Blackstone, Carlyle, KKR and TPG Jointly Host Inaugural Veterans Initiative Summit
Summit convenes representatives from the White House, U.S. Military, Departments of Labor and Veterans Affairs, private equity portfolio companies, and the First Lady Michelle Obama, to advance veteran hiring, retention, and career development
WASHINGTON - Today Blackstone (NYSE:BX), KKR (NYSE:KKR), The Carlyle Group (NASDAQ:CG) and TPG will jointly host the inaugural Veterans Initiative Summit to support the hiring of American veterans across private equity portfolio companies. The two-day summit will focus on how portfolio companies held by investment funds sponsored by these companies can attract, retain, and promote veterans, improve business operations and support communities.
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Investing on behalf of more than half of the public pensioners in the United States, the private equity industry represents hundreds of companies and millions of employees. The summit is designed to bring these firms and their portfolio companies together to promote the sharing of best practices, identify gaps and opportunities in veteran hiring processes, and energize leaders across private equity firms and portfolio companies as they continue to focus on these important issues.
In addition to human resources executives from across the partner firms' collective 200+ U.S.-based portfolio companies representing more than 1.2 million domestic employees, the summit will feature dynamic and informative speakers including First Lady Michelle Obama, Senator John McCain, Joining Forces Executive Director Colonel Nicole Malachowski, Carry The Load Co-Founder Clint Bruce, Deputy Under Secretary for Economic Opportunity at the U.S. Department of Veterans Affairs Curtis Coy, Army Vice Chief of Staff General Daniel B. Allyn, President of Hiring Our Heroes and Vice President of the U.S. Chamber of Commerce Eric Eversole, President and CEO of Taylor Morrison Home Corporation Sheryl Palmer, Director of the Military Service Initiative at The Bush Institute Colonel Miguel Howe, and Principal Deputy Assistant Secretary of Defense at the U.S. Department of Defense Stephanie Barna.
Sessions at the summit will cover a wide range of topics, including an overview of government initiatives that complement this effort, the role of mentorship in ensuring a positive transition to civilian life, and other challenges and opportunities that impact this initiative. Additionally, the summit will feature small break-out discussions that offer hiring executives the opportunity to leverage the collective knowledge of leaders across the firms' portfolios of investments to tackle issues and share best practices.
"We could not be more proud to partner with firms from across the industry on this truly remarkable effort. We all have a responsibility to do right by our nation's veterans - by working together, our industry can make an important contribution," said Stephen A. Schwarzman, Blackstone's Chairman, CEO, and Co-Founder. "Across our portfolio companies we have found that veterans make outstanding employees, and we are thrilled to continue this effort to ensure that those who have so bravely served our country can develop meaningful and successful careers when they transition to civilian life."
"Veterans can face significant challenges entering the civilian workforce. The private equity industry, and the diversity of jobs represented by our many companies can help be part of the solution," said Henry Kravis, Co-Chairman and Co-CEO of KKR. "Today, we are proud not only of our firm's progress in hiring and retaining veterans across our portfolio, but also of the spirit of partnership this summit has fostered across our industry."
Daniel A. D'Aniello, Chairman of The Carlyle Group and a U.S. Navy veteran, said, "We are grateful for our veterans' service and sacrifice. Through this summit we hope to draw attention to the needs of our military service members and their families as they transition to the private sector. Private equity portfolio companies can be an effective part of the solution in supporting veteran career development."
"Hiring our nation's veterans is the right thing to do - for them and for our portfolio companies," said David Bonderman, co-founder of TPG. "Veterans have invaluable skills, a strong sense of commitment and a positive work ethic that can surely benefit any business."
The summit brings together 150 veterans hiring leaders from the firms' portfolio companies to learn from each other and from more than 20 panelists and speakers. Following the summit, the firms will continue to collaborate to provide support to help portfolio companies as they hire veterans and promote veteran career development and integration in the broader economy.
The event is OPEN PRESS. Registration is required by Wednesday, October 7th at 7:00p.m. and members of the press must arrive at the Grand Hyatt Washington by 12:00p.m. on October 8th. To register for the event or to inquire about press interviews with any of the participants please email MediaRegistration@inventivhealth.com.
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Blackstone is one of the world's leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies in which we invest, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with over $330 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets, and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow us on Twitter @Blackstone.
About The Carlyle Group
The Carlyle Group (NASDAQ:CG) is a global alternative asset manager with $193 billion of assets under management across 128 funds and 159 fund of funds vehicles as of June 30, 2015. Carlyle's purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments - Corporate Private Equity, Real Assets, Global Market Strategies and Investment Solutions - in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,700 people in 35 offices across six continents.
KKR is a leading global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation at the asset level. KKR invests its own capital alongside its partners' capital and brings opportunities to others through its capital markets business. References to KKR's investments may include the activities of its sponsored funds. For additional information about KKR & Co. L.P. (NYSE:KKR), please visit KKR's website at www.kkr.com.
TPG is a leading global private investment firm founded in 1992 with approximately $75 billion of assets under management and offices in San Francisco, Fort Worth, Austin, Dallas, Houston, New York, Beijing, Hong Kong, London, Luxembourg, Melbourne, Moscow, Mumbai, São Paulo, Shanghai, Singapore and Tokyo. TPG has extensive experience with global public and private investments executed through leveraged buyouts, recapitalizations, spinouts, growth investments, joint ventures and restructurings. The firm's investments span a variety of industries including healthcare, energy, industrials, consumer/ retail, technology, media & communications, software, financial services, travel, entertainment and real estate. For more information visit www.tpg.com.
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Suzanne Miller, 314-795-4225
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