Word: eisenson
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Aeneas Venture Corp. Aeneas Holdings Inc., Demeter Holdings Corp., One Eye Corp. and Phemus Corp. are all subsidaries of President and Fellows of Harvard College--the legal entity that operates the entire university. Finanical whizkids Scott M. Sperling and Michael R. Eisenson rake in $1 million a year juggling the risky ventures...
Hana Biologics Inc., Alameda, Calif.: Aeneas Venture owns about $10 million worth of stock in this biotech firm. After controversial fetal tissue experiments failed and stock prices crashed, large investors took over--and Aeneas partner Michael R. Eisenson was installed as a director...
Harken Energy Corp., Dallas, Texas: Harvard and its affiliates own almost 30 percent of the common stock, and some preferred stock as well. The $40 million-plus investment landed Harvard Management's Donald D. Beane and Aeneas' Michael R. Eisenson on the board of directors. Also on the board is George W. Bush, the President's son. The company drills for oil and gas, and also operates a chain of E-Z Serve gas stations/convenience stores...
...meantime, Harvard continues to increase its presence in the burgeoning LBO market. According to Wall Street sources and Eisenson, the University has been choosing its own buyout deals for about the past five years. And each year, as the endowment has increased, so has the amount of Harvard capital invested in those buyouts...
...Eisenson agrees, saying that while limited partnership gave Harvard "access to bigger deals," the new direct investments avoid the "cost attached to limited partnerships," a cost he says amounts to about a 20 percent cut of the profits...