International Herald Tribune – Jack Meyer, who outperformed most money managers for 15 years as head of Harvard University’s endowment, has raised a record $6 billion for his new hedge fund, according to two people with direct knowledge of the fund.
Convexity Capital Management, which Meyer founded in September with about 30 colleagues from Harvard Management, will begin investing this month, the people, who declined to be identified because information about the fund is not public, said Friday. Convexity, a bond manager, received about $500 million from Harvard University.
“He’s an icon of the endowment-institutional investment business,” said Verne Sedlacek, the chief executive of Commonfund, which oversees funds for nonprofit institutions.
“There’s been a lot of buzz about him.”
Convexity opens with more money than any new hedge fund, topping the $3.5 billion raised in 2004 by Eric Mindich, a former partner at Goldman Sachs, for Eton Park Capital Management.
