Harvard Management Co
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Harvard’s small surplus is a move into the black after recent years of deficits large and small. The progress was largely fueled by the first public year of fundraising for the Harvard Campaign.
Harvard's endowment was outperformed by the average institution according to an study of 426 schools by the National Association of College and University Business Officers and Commonfund Institute.
From left, Dean of Harvard College Rakesh Khurana sits with professors Robert Kaplan and Allen Ferrell to discuss the Harvard Management Company in Emerson Hall on April 4, 2012.
Stephen Blyth, pictured at the Phi Beta Kappa Literary Exercises in 2013, was named the next president and CEO of Harvard Management Company on Wednesday.
Blyth, who is currently a managing director and head of public markets at HMC as well as a professor of statistics, will assume the role Jan. 1, 2015.
The investment gains leave Harvard’s endowment just short of its $36.9 billion peak, which was reached in June of 2008, before the global financial crisis.
Vice President for Alumni Affairs and Development Tamara E. Rogers ’74 defended the compensation of top managers of the Harvard Management Company in a letter sent late last week to a group of alumni that had previously criticized the University's investment arm.
Members of Harvard Faculty for Divestment called once again for an open and public forum with members of the Harvard Corporation and the Harvard Management Company on Tuesday.
Ryan, who most recently served as the chief investment officer at MDR Capital Management in New York, will start his new role in September.
After helping Harvard’s endowment recover from a global financial crisis, Harvard Management Company President and CEO Jane L. Mendillo will depart her post at the end of 2014.
Harvard Management Company is housed in the Boston Federal Reserve building.
At Harvard Management Company, the stakes are high, especially during Harvard’s record-seeking capital campaign. But in contrast to the record yields HMC enjoyed from 1990 until the financial crisis, the company’s recent returns—which influence Harvard’s financial strength more than any donor can—now straddle the national average.
A year of protests and conflicts reveals the divergent conceptions of responsible investment at Harvard.