Kohlberg Kravis Roberts and Co (KKK), a leading New York City-based private equity firm led by Henry Kravis, that focuses on leveraged buyouts, and Sponsors for Educational Opportunity (SEO), a summer internship program for students, announced the SEO Alternative Investment Fellowship Program’s first partnership with KKR. The program aims to provide a guide, training, and counseling opportunities for gifted young and financial executives of color to boost their exposure in the private equity sector.

The Alternative Investment Fellowship Program is an industry-wide initiative supported by SEO. It will be backed by a three-year commitment from Kohlberg Kravis. The main focus of the program is the yearly selection of four to six analysts who will take part in a series of education, training and mentoring programs within a period of 18 months. These analysts will then be qualified for consideration as Kohlberg Kravis associate employees.

KKR’s senior member and head of its branch in Asia, Joseph Y. Bae, stated that a distinct workplace is a proven useful lead and a business necessity. Bae believes that the private equity industry is fully equipped to handle the hiring of young professionals of color. KKR hoped that the Alternative Investment Fellowship Program would be a significant first step in a long-term industry obligation.

According to SEO’s current chief executive officer and president, William Goodloe, targeting on the private equity sector was the next move in his company’s development as collaborator to Wall Street and Corporate America in generating quality workplace initiatives.

Goodloe further added that launching the program is a good move especially since KKR is one of the world’s oldest and most trusted private equity firms. He further added that he expected the program to become appealing for other alternative assets and private equity executives to support.

With over 5,000 alumni in SEO’s Career Program, the initiative has turned into a significant resource of talent for primary investment banks and worldwide corporations.