With a year still remaining in its record-shattering capital campaign, Harvard has raised $8 billion in donations.
Not even Harvard’s cows are safe as Harvard Management Company undergoes a radical restructuring that it hopes will reverse a decade of lackluster returns.
"I think the Congress spoke with a rather bipartisan, resolute voice in favor of the things that I’ve been arguing for, so that was a very good sign," Faust said.
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.