Word: sowood
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Dates: during 2004-2004
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...Larson, who managed foreign equities for the University. In the interim, a conspicuous cluster of desks on the trading floor, where Larson and his staff of 14 used to work, lies empty in their absence. Larson left the management company this summer to start his own hedge fund, Sowood Capital, backed in part by Harvard’s money...
Jeffrey B. Larson earned $8.1 million in his final fiscal year managing foreign equities at Harvard. He left the management company on June 30 to form his own hedge fund, Sowood Capital, backed in part by University money...
Because Harvard holds “preferred” shares of Surgut, it is entitled to a yearly dividend payment based on Surgut’s net profits, said Megan Kelleher, a spokesperson for Sowood Capital Management, which is handling the case on behalf of Harvard...
...Sowood Capital Management, Larson’s $2-billion hedge fund, will receive an initial investment of $500 million from HMC. Harvard will also invest $200 million in an exclusive commodities fund operated by Larson. All told, the spin-off will place around an additional 3 percent of the University endowment in the hands of an external manager in a trend which shows no signs of abating...
Harvard will also invest $200 million in an exclusive commodities fund that is managed by Larson’s new company, Sowood Capital Management...