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Reuters – Harvard University’s multibillion dollar endowment is adopting a strategy of selling off some holdings in hedge funds, private-equity firms and other money managers to bring more money under the control of internal investing staff over the next few years, the Wall Street Journal said.
Jane Mendillo, head of Harvard endowment, told the paper the university’s move would allow it to be more nimble, have better transparency into the portfolio and more liquidity.
Reuters – Harvard Management Co, which invests the Ivy League school’s multibillion dollar endowment, hired two investment managers away from two prominent hedge funds, the university said on Wednesday.
Emil Dabora, a senior managing director at Caxton Associates, will join as an equity portfolio manager while Michele Toscani, now at Fortress Investment Group, will join the international fixed income portfolio management team.
