Harvard Management Co
After a Harvard Management Company official said that the natural resources portfolio is "pausing" investments in fossil fuels, the University maintained that the remarks did not represent a change in investment strategy.
Faust said the renown of American universities is “contingent” on continued federal support during a panel discussion with university presidents in the nation’s capital.
As Harvard cuts the size of its internal workforce and begins to outsource its funds to more expensive external managers, Harvard Management Company will begin to more closely resemble investment offices at Yale and other peer institutions.
Harvard Management Company’s head of natural resources Colin Butterfield said that Harvard is “pausing” investments in some fossil fuels.
Students have launched a new effort urging Harvard to divest—this time taking aim at the University’s holdings in private prison stocks.
Months after announcing it would radically revise its investment strategy by the end of the fiscal year, Harvard Management Company will invest at least $300 million into a hedge fund formed by some of its former money managers.
Members the Class of 1981 suggested significant changes to Harvard Management Company’s investment philosophy in a letter to Faust.
"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.
Weeks after the Harvard Management Company announced its intent to lay off nearly half of its 230-person staff, three of the firm’s investment managers will leave the company to form their own hedge funds, according to Bloomberg.
Brian C. Rogers ’77, a prominent investment manager and philanthropist, has joined the Harvard Management Company's board of directors.
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.