The firm’s president and ceo will retire at the end of August 2023 and be succeeded by the firm’s director of investments.
The discretionary provider hired a managing director and head of non-U.S. equity to direct its international equity investments and co-lead its public equities team.
The university has divested its endowment from direct investments in fossil fuel companies and has set a more ambitious target for reducing its carbon footprint after reaching its initial target almost a decade ahead of schedule.
The university hired its first cio to manage its investment office and oversee three separate portfolios following a search from earlier this year due to the increasing size and complexity of its endowment.
The system has postponed finalist interviews in its search for consultants to oversee its portfolio due to Tropical Storm Nicole, which is expected to strike the state this evening.
The fund added the domestic small-cap equity manager to its watchlist this summer due to underperformance and will review the firm next year.
In 2016, Harvard had bad news to share in its annual financial report: Its endowment value had dropped nearly $2 billion. The report, released that November, detailed the endowment’s lackluster returns by disclosing how the Harvard Management Company performed in a variety of asset categories against internal and external benchmarks.
The university approved a private credit commitment within its endowment last month that appears to represent a new relationship.
The firm hired a head of ESG to develop an ESG strategy and standardize and enhance its ESG strategies.
The Midwest-based firm has promoted three principals to managing director and two directors to principals, while hiring a new principal to deploy a strategy that aims to partner with management leaders in sectors to identify, acquire and build market-leading companies.