Hedge Funds

Bonuses of $30m look bad when Harvard library faces cuts


Jack Meyer, the president of the Harvard Management Company, has raised the prospect of the university endowment moving to external management after student protests over the bumper $30 million bonuses paid to two managers last year and the departure of two managers to start their own funds.

Jack Meyer

The scale of the bonuses has been contrasted to the library cutbacks, which prompted angry student protests. Meyer has attempted to defend his record by saying that the endowment has risen to well over $19.3 billion, compared to $4.7 billion when he arrived at HMC.

Talking to a