Former board chair, whose hedge fund lost $1.5 billion, returns to board, will oversee endowment

The Mac Weekly – Larson resigned from the board in August 2007 after the sale of his hedge fund, which had been one of the most successful in the country. Sowood Capital Management was an early, high-profile casualty of the subprime mortgage collapse that preceded the financial crisis. The fund lost more than half of its value in July 2007 when investors ran from corporate credit and traditionally safe bets became began to backfire.

“We’re very happy to have Jeff Larson back on the committee,” Aase said. “He brings a wealth of institutional investment experience with him, along with insights gained from the difficulties he encountered with his hedge fund.”

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