Harvard Management Co
Previously the CEO of Brazilian farmland investment firm Radar S.A., Butterfield will join Harvard’s investment arm—which directs the University’s $37.6 billion endowment—this fall, the University announced Thursday.
Blyth’s departure continues a recent trend of shorter stints at the head of HMC— for the first 31 years of its existence, the fund saw just one transition of leadership.
General Motors announced on Friday its nomination of former Harvard Management Company President and CEO Jane L. Mendillo to stand for election to its board of directors.
Four members of the student activist group Divest Harvard were arraigned and charged with trespassing after staging a sit-in in the lobby of the Boston Federal Reserve, home to the offices of the Harvard Management Company, which manages Harvard’s $37.6 billion endowment.
Responding to congressional inquiry about university endowments, Harvard released an extensive document Friday explaining how its $37.6 billion endowment advances its educational—and tax-exempt—mission.
Pedicini, who will leave HMC after just two-and-a-half years, departs after her department suffered criticism from Divest Harvard over the Management Company’s steadfast refusal to fully divest the endowment from the fossil fuel industry.
Federal grant cuts, private foundations and other non-federal sources have stepped up their contributions to minimize the damage to University operations.
The plaintiffs claim in their 113-page appeal that Harvard has mismanaged its endowment by investing in “abnormally dangerous activities."
Eight-year fixed-income manager Marco C. Barrozo and Satu Parikh, who joined HMC in 2011 as managing director and head of commodities, departed recently with little notice.