Harvard Management Co
A former Harvard hockey star and active alumnus will become the managing director for private equity at Harvard Management Company, HMC announced in a press release on Monday.
A study released Tuesday alleges that the management of two Harvard-owned timber plantations in Argentina has led to the deterioration of the Ibera Wetlands, the world’s second largest wetlands, and a decline in the quality of life in surrounding communities.
The returns, which apply to fiscal year 2013, mark vast improvement from the previous fiscal year, during which the endowment’s value declined slightly to $30.7 billion.
Divest Harvard continues to garner support from students, faculty, and other members of the community for its efforts to force the University to divest from fossil fuel corporations.
Jameela Pedicini, a former manager for the United Nations’ Principles for Responsible Investment initiative, will work to research and understand sustainability issues related to the University’s more than $30 billion endowment.
A Morgan Stanley executive will take over as Harvard Management Company’s next chief risk officer, the body announced Wednesday.
Harvard will invest its soon-to-be-launched social choice fund into the Parnassus Equity Income Fund, the University announced in a press release on Thursday.
University President Drew G. Faust saw little change in her earnings between 2010 and 2011, while HMC President and CEO Jane L. Mendillo's total compensation jumped by 52 percent during the same time period.
Faust's Earnings in 2011 Much Lower Than Those of Other University Presidents and Top Harvard Employees
University President Drew G. Faust received $899,734 in salary and benefits in 2011, according to a recent filing with the Internal Revenue Service. While that figure is about the same as last year’s, Harvard’s chief investment manager, who is paid far more than most administrators, saw a 52 percent increase in her earnings.
The Harvard Management Company certainly isn't headed to the thrift shop with nearly $31 billion dollars in their pockets. Harvard's investments in Smith & Wesson, one of the largest gun distributors in the United States, recently raised concern among alums and current students in the Responsible Investment at Harvard Coalition. But one investment is small potatoes for the HMC. Even if they choose to divest from Smith & Wesson, they'll still have money to blow on high-end retail, tacky shoes, and even entire countries. You name it—Harvard has probably already invested in it.
A student and alumni activist group criticized Harvard this week for its investment in an index fund that is a major shareholder of firearm manufacturer Smith & Wesson.
Harvard Management Company has created a new position devoted to researching and understanding sustainability issues related to the University’s $30.7 billion endowment.
Speaking at a recruiting event for the Harvard Management Company on Monday, HMC President and CEO Jane L. Mendillo said she recently has been “more conscious about trying to recruit” Harvard students to work for the Company, which oversees the University’s investments.
Harvard’s endowment returns beat the national average for American colleges and universities during the 2012 fiscal year.