Harvard teaches the Ivy League a lesson

Tue Jul 1, 2003

Under Jack Meyer, the university endowment has turned itself into a giant $17.5 billion hedge fund and is doing pretty well with its unique strategy

There are few universities that engender the kind of respect that Harvard University easily commands. Since its founding in 1636, it has become the Ivy League's pre-eminent academic institution. And, today the university's endowment fund, with assets of $17.5 billion, is attracting similar adulation as it completes the process of quietly turning itself into the largest hedge fund in the world.

In doing so, the largest U.S. university endowment has pioneered new structures for holding onto talent - which is no easy task in a world where hedge fund mega-earnings sit awkwardly alongside the cloisters and dreamy spires of pure academia. But somehow Harvard has pulled off the trick, helped by the fact that in 2000 alone the endowment made a $4 billion profit...

ISSN: 2151-1845 / CDC10004H

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