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.
The university is seeking firms to provide discretionary investment management services for its endowment and will give preference to firms that can provide an African American as lead manager.
The firm closed its inaugural special situations fund with over $85 million in commitments from new and existing institutional investors after beginning fundraising in late 2021.
The firm added a senior advisor to assist its full-time team with relationships, resources and industry knowledge to help optimize results for its portfolio investments.
The system will hear presentations from four finalists next week in its search for a consultant to oversee its defined pension, defined contribution and operating funds.
The university is searching for an individual to implement and manage operations supporting the management of its endowment.