Harvard Management Co
FAS Reserves Dwindling, Dean Says
Cash reserves for Harvard’s flagship Faculty have dwindled to “effectively zero,” Dean of the Faculty of Arts and Sciences Michael D. Smith said at a meeting of the body Tuesday.
Columbia Endowment Chief Will Lead Underperforming HMC
Columbia University endowment manager N.P. Narvekar will serve as the next CEO and president of Harvard Management Company, taking the reins of the world’s largest university endowment at a time of instability, the University announced Thursday evening.
A Tale of Two Endowments
Should Harvard abandon decades of established investment practices and, in short, start investing like Yale does? Can it afford not to?
‘Disappointing’ HMC Returns Will Pressure Budgets, Faust Says
The near $2 billion drop in Harvard’s endowment will constrain budgets, University President Drew G. Faust said in an interview Tuesday.
Yale Earns 3.4 Percent On Investments, Beating Harvard
In a rough year for university endowments, Yale returned 3.4 percent on its investments in fiscal year 2016, beating out Harvard’s negative 2 percent returns over the same time period.
Harvard Loses Almost $2 Billion in Endowment Value
Harvard Management Company lost almost $2 billion in endowment value during a “disappointing” fiscal year 2016, posting its worst endowment returns since the nadir of the financial crisis.
A Guide to Harvard's Endowment
Harvard lost almost $2 billion dollars in endowment value this year. Here’s what that means, why it matters, and an analysis of why it may have happened.
HMC Chief Executive Search Narrows
Harvard has started to narrow its list of candidates to replace Stephen Blyth as CEO of Harvard Management Company and has at least two higher education investment veterans among potential candidates for the position, according to a story in the Wall Street Journal.
Endowment Could Face Low Returns, Experts Warn
Facing a stagnant global financial market, Harvard Management Company, the firm that oversees the University’s $37.6 billion investment pool, is bracing for potentially low returns for the 2016 fiscal year, according to University President Drew G. Faust and financial experts.
Still Seeking a CEO, HMC Adds Butterfield As Natural Resources Exec
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.
News Analysis: Blyth's Departure Continues HMC Shakeup
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.
Blyth Resigns as Management Company CEO
Blyth, who assumed leadership of HMC in in January 2015, will leave for personal reasons, according to a press release from the University Wednesday, but will remain a senior adviser to the HMC Board.
Faust Made $1.2 Million in 2014
Harvard Management Company CEO Stephen Blyth made less in 2014 as head of public markets than he did the previous year in that position, while University President Drew G. Faust earned more than she did in 2013.
Management Company Adds Jain to Board
Robert Jain, an investment banker at Credit Suisse, joined the Harvard Management Company in March as the newest member of the board of directors, the fourth person added to the body since last August.
Former Harvard Management Company CEO Mendillo Nominated to GM Board
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.
Divest Protesters Released, Likely to Settle Case
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.
In Letter to Congress, Faust Makes Case For 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.
Endowment Returns Outpace National Average
For the first time since the 2012 fiscal year, Harvard’s endowment grew at a faster rate than the national average for American colleges and universities in FY 2015.
Management Company Sustainable Investing Chief To Depart
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.
Despite Federal Aid Cuts, Harvard Reports Budget Surplus
Federal grant cuts, private foundations and other non-federal sources have stepped up their contributions to minimize the damage to University operations.
Amy Falls Added to HMC’s Board of Directors
Falls, whose appointment was effective Sep. 28, worked at Morgan Stanley and Phillips Academy Andover before managing The Rockefeller University’s approximately $2 billion endowment. HMC announced the move on its website.
Student Protesters Appeal Dismissal of Divestment Lawsuit
The plaintiffs claim in their 113-page appeal that Harvard has mismanaged its endowment by investing in “abnormally dangerous activities."