Word: hmcã
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...Harvard hires the best portfolio managers it can find, offers them multi-million dollar compensation packages and gives them wide autonomy to invest its endowment—with almost a quarter of HMC??€™s funds going into high-risk assets like venture capital and real estate...
...HMC??€™s strategy is considered cutting-edge for institutional investing, says Michael P. Manning, a senior partner with New England Pension Consultants, an investment consulting firm...
...time, many industry experts considered HMC??€™s move risky, but Cabot recognized that the endowment’s long-term view could withstand the day-to-day volatility of the market...
...Endowment returns also benefited from HMC??€™s entry into the business of leveraged buyouts and financing mergers...
...Harvard was the envy of other Universities, with an endowment return of 43.3 percent—almost double the total return for the 15 years prior to HMC??€™s creation...