Word: hmc
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Sperling has been with Harvard Private Capital for 10 years. Formerly known as the Aeneas Group, Harvard Private Capital is a subsidiary of the Harvard Management Company (HMC) that oversees University investments in private equity deals...
Critics of HMC have said that in a normal investment firm,. the man agers of that portfolio would have been fired. At Harvard, however, managers Scott M. Sperling and Michael Eisenson paid for their error through smaller performance bonuses that year...
Also, other universities such as Yale have paid far less for better performance. Even in HMC's self-described "amazing year" of fiscal 1993 Yale beat it with a 17.3 percent return. Yale has outperfomed Harvard for five straight and eight of the last 10 years...
Once more, the top officials of the Harvard Management Company (HMC) have pocketed barrels of money for investing Harvard's $6 billion endowment...
...Harvard embarks on the biggest fundraising campaign in higher education history, we think the University's reluctance to reassess HMC's purpose and procedures is unfortunate. There has never been a better time for a comprehensive re-evaluation of the way Harvard manages its money. April...