Harvard Management Company (HMC) is a wholly-owned subsidiary of Harvard University, charged with managing the university's endowment, pension assets, working capital, and non-cash gifts. HMC is perhaps best known for managing the university's $34.9 billion endowment, the largest endowment in higher education.
The company employs financial professionals to manage the approximately 11,000 funds that constitute the endowment. The company directly m...
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Harvard Management Company (HMC) is a wholly-owned subsidiary of Harvard University, charged with managing the university's endowment, pension assets, working capital, and non-cash gifts. HMC is perhaps best known for managing the university's $34.9 billion endowment, the largest endowment in higher education.
The company employs financial professionals to manage the approximately 11,000 funds that constitute the endowment. The company directly manages about 60% of the total endowment portfolio, while working closely with the external companies that manage the rest. The HMC is headed by a professional, who is appointed the title of president and chief executive officer of the company. Its well-known recent president Jack Meyer managed HMC from 1990 to September 30, 2005, beginning with an endowment worth $4.8 billion and ending with a value of $25.9 billion (including new contributions). During the last decade of his tenure, the endowment earned an annualized return of 15.9%.
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