"The sense was that the fees that would be charged by external managers in relationship to the insight and success of external managers was worth undertaking,” Faust said.
Experts say that if the real estate team continues to do business with Harvard Management Company as an external management unit, it could earn salaries well above what members of the team drew in at HMC for doing mostly the same job.
Harvard’s endowment grew slower than was average for university endowments in fiscal year 2016, according to a recent report from the National Association of College and Business Officers.
There was no shortage of surprises in 2016. Between unprecedented penalties on members of undergraduate social organizations, the stunning rise of Donald Trump to the presidency, and a dining workers strike that lasted more than three weeks, events at Harvard and beyond defied expectations and challenged norms. The Crimson takes a look back at the essential stories of a pivotal year.
Harvard’s traditional revenue sources—including returns on its endowment—may be subdued in the coming years, a reality that could “significantly constrain” future University budgets, according to Harvard’s annual financial report released Tuesday.
Harvard Management Company employees accused the University's investment arm of setting artificially low benchmarks and overcompensating top managers, Bloomberg reported Thursday.
Administrators are ratcheting up efforts to minimize campus disruption and calling for volunteers from the exempt employees within several of its schools to help out HUDS.
The Faculty of Arts and Sciences passed its $2.5 billion capital campaign goal in June, FAS Dean Michael D. Smith said at the Faculty’s monthly meeting Tuesday.