Word: hmc
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Dates: during 2000-2009
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...does take scale, and there aren’t a lot of universities that have endowments large enough to make [internal management] work,” says former HMC investment manager Scott Sperling...
...When HMC was created, Harvard was unique in the national field. And even now only a handful of universities—Yale, Princeton, Stanford, and the University of Texas, among others—have internal investment managers...
...there were times when it looked like it wouldn’t... It’s taken a lot of time to get comfortable,” says John S. Griswold, senior vice president of The Commonfund, a mutual fund for institutional investors that was established three years before HMC and currently manages over $26 billion for more than 1,400 colleges, universities, and foundations...
...When Walter M. Cabot ’55 set up HMC in a giant glass-paneled office on the 26thfloor of the Federal Reserve Building in downtown Boston, he began a term as president and CEO that would last for almost two decades...
...Cabot met with further success in the venture capital business, which HMC entered just as the 1970s technology boom began...