KKR Partner Paul E. Raether Named Honorary Chairperson of Ninth Annual Michael Lynch Memorial Foundation Dinner

NEW YORK, Feb. 8, 2011 /PRNewswire-USNewswire/ -- The Michael Lynch Memorial Foundation, a program that has provided $1.6 million in college scholarships to children of firefighters and victims of the September 11 attacks as well as other U.S. disasters, today announced that Paul E. Raether, a partner in the global alternative asset management firm Kohlberg Kravis & Roberts Co. (KKR), has been named Honorary Chairperson of the Foundation's ninth annual dinner. The event is scheduled to be held on Monday, March 28, 2011 at Pier 60 at Chelsea Piers in Manhattan.

The Michael Lynch Memorial Foundation began in response to a terrible tragedy – the loss of Michael Lynch, a son, brother, fiance, uncle and New York City firefighter who sacrificed his own life on September 11 in an effort to save others. Facing the ultimate loss, the Lynch family saw an opportunity to help finance the education of young people as a living tribute to the human spirit and the family's collective resolve to respond to adversity with courage, strength, compassion and hope. The goal of the Foundation is to provide the means to help change the world, one person at a time, by helping the students of today become tomorrow's stewards of peace and freedom.

"It is truly a privilege and an honor to serve as chair of this year's annual dinner for the Michael Lynch Memorial Foundation," Mr. Raether said. "Founded and managed by members of the extended Lynch family on an all-volunteer basis, the Foundation is truly an extraordinary organization that has found a way to transform a terrible tragedy into an opportunity to teach aspiring leaders about hope, honor, courage and compassion."

Since joining KKR in 1980, Mr. Raether has played a significant role in the growth and value creation in many of the firm's portfolio companies, including Beatrice Companies, Duracell, Fleet/Bank of New England, IDEX Corporation, Masonite International, Randall's Food Markets, RJR Nabisco, Stop & Shop Companies and Shoppers Drug Mart.  Mr. Raether also serves as a director or trustee for several educational and non-profit institutions, including the Board of Trinity College in Hartford, CT, where he serves as Chairman.  He also serves as a Trustee of the Board of Overseers of the Amos Tuck School of Business Administration, Dartmouth College, and the U.S. Ski and Snowboard Foundation. He is the President of the Institute for Sports Medicine Research (ISMR) in New York.

Mr. Raether became involved with the Foundation through Fred Lynch, one of Michael Lynch's brothers, who is chief executive officer of Masonite Inc. and a director of the Michael Lynch Memorial Foundation.

"My family and I are very grateful to Paul for agreeing to serve as Honorary Chairperson of this year's dinner," Fred Lynch said. "With a very successful business career and a long record of generously giving back to the community through his charitable and civic activities, Paul is truly an inspiration for our current and future scholarship recipients."

In March 2010, the Foundation's eighth annual dinner, chaired by Jonathan S. Henes, a partner in the Restructuring Group at Kirkland & Ellis LLP, raised more than $500,000 for the Foundation. Due to the success of the previous dinners and other fundraising activities, the Foundation was able to increase the number of annual grant recipients from 10 to 12 in 2010, and also increased the amount of the scholarship for all 42 current participants by 20 percent – to $24,000 for four years.

"I am delighted that Paul Raether has agreed to serve as the chairperson for the 2011 dinner," Mr. Henes said. "The strong support for the Foundation from the restructuring and financial community, as well as other corporate and individual donors, will be particularly significant this year because the funds they raise will directly and meaningfully benefit the lives of the latest scholarship recipients, who will be named in September, shortly before the 10th anniversary of the September 11 attacks."

Details about the Michael Lynch Memorial Foundation and the Annual Dinner on March 28, 2011 are available online at www.mlynch.org.

SOURCE The Michael Lynch Memorial Foundation

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