Harvard

“One of the most important people in my life, he actually was the most important people in a lot of people's lives in finance, is a guy named Harry Parker, who was the Harvard rowing coach for 53 years. He coached Bill Ackman, coached Reed Griffith, who runs Te…”

“Harvard was the shortest search we ever did. It was two and a half months. I mean, and typically these take four or five, six months.”

“Richard Hackman as a professor at Harvard. And, you know, he studied teams across all different disciplines and found that the optimal tie size was four to six.”

“In general, I think endowment portfolios were still relatively conservative and relatively simple in their structure. Now, Harvard had obviously evolved. Yale was beginning to evolve. Notre Dame and Duke and some others were starting down that path, but it was…”

“The Yale Endowment, which is always the leader, are already in, right? They made a fairly sizable investment with Paradigm, a firm out, out in California. Harvard and Stanford are in. University of Pennsylvania and Columbia are either in or getting in.”

“What a lot of these firms or institutions have is a lot of illiquid stuff. Harvard is still trying to untangle some of it that they probably shouldn't have done”

“What they found with the group that was raising their hands in class was that super majorities formed very quickly. In other words, consensus formed. Once people sort of saw consensus start to form, people were sort of going with the consensus. I think partly …”

“And what we found is State Street would bring in these young year up kids and they would work their butts off and then end up staying for four, five, six years versus hiring the Boston College grad who would get trained, last for seven months and leave. And so…”

“Harvard, on the other hand, has every tub on its own bottom, so the Faculty of Arts and Sciences gets More than half of its income every year through the endowment, but the Divinity School does not, and the School of Education gets almost nothing from the endo…”

“And whether you look at Stanford, Harvard, Fannie Mae, almost any economic analyst will tell you we're short somewhere between three and seven million houses.”

“We are using those taxonomies and we are reporting publicly on our investment aligned with the SDGs step one. We're also part of a pilot program with the Harvard called the impact weighted accounts, which is really trying to start to translate externalities, b…”

“We get more applicants now in a year than Harvard, Stanford, and MIT combined.”

“Although we see in the market that Yale and Harvard are selling, this is not their first sale. It's just actually a return to them selling.”

“The loss to Harvard by not investing in a sector of oil and gas over the last eight, 10 years is very meaningful because it was a target rich environment for returns that go to support the financial aid for students.”

“All these initiatives at Harvard lead to spinning out these firms. You think about Adage, Highfields, Convexity, Charles Bank. Now you go from them being internal paying them that to them being external in paying them one and a half and 20. And pause some of t…”

“Three years ago, before the current unpleasantness and the venture capital green business, we were number zero on the Cambridge Associates database, which is their code for number one. On a ten-year basis, we were beating Harvard and Yale and Princeton with ou…”