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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 firm promoted two partners to co-cios amid its former cio’s decision to step down.
David Seaman has been named president of Domain Capital Group.
The plan will seek board approval to terminate a high-yield fixed-income manager and an emerging markets equity manager.
The firm will oversee the city’s treasury investment funds.
The plan may conduct a search to replace its current underperforming hedge fund-of-funds.
The plan is set to commit $20 million annual over the next five years.
Texas state governmental agencies appear to be continuing external manager relationships with BlackRock while being forced to divest direct holdings exposure to the firm as it is included in Comptroller Glenn Hegar’s initial list of financial companies that boycott energy companies.
Alternatives investment consultant Aksia has added two professionals to its global private credit team.
The university approved a private credit commitment within its endowment last month that appears to represent a new relationship.