Monday, 24 June 2024

George R. Roberts, Founder and Board Chair Roberts Enterprise Development Fund (REDF)

American Samoa

Champion's Profile

Prior to founding REDF, Mr. Roberts was one of the founding partners of KKR in 1976. Today, 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.

UNDP SDG

Reducing Inequality, Sustainable Cities and Communities, and Responsible Consumption and Production

Description and impact

REDF is a venture philanthropy that invests exclusively in social enterprises that employ and empower people overcoming barriers to work. In 1997, The Roberts Enterprise Development Fund (REDF) was formed with a mandate to launch and grow social enterprises. By 2004, REDF’s methods and reputation had grown, enabling it to convert from a family foundation to the independent non-profit it is today. Using the principles he developed while leading KKR, the global private equity investment firm he co-founded, Roberts structured REDF to undertake venture philanthropy, with the mindset of an investor, and an expected return measured in people with jobs and lives changed. With backing from a $7 million Social Innovation Fund (SIF) grant, REDF announced our first national portfolio; expanded the national reach of our advisory services; increased our funding of high-performing social enterprises across the U.S.; and built partnerships with businesses, philanthropy, human services, and government.