Tuesday, 30 August 2016
Last updated 57 min ago
Jun 11 2014 | 8:48am ET
Harvard University’s giant endowment has spawned more than a half-dozen hedge funds over the last few decades. But outgoing Harvard Management Co. chief Jane Mendillo won’t be joining them.
Mendillo announced yesterday that she would step down after six years atop the $33 billion endowment, where she has spent the better part of the past two decades. But while her predecessors have often moved on to other high-profile money management jobs—Mohammed El-Erian went to PIMCO before leaving that firm earlier this year, and his predecessor, Jack Meyer, founded Convexity Capital Management, one of the largest hedge-fund launches in history—Mendillo plans a quieter future, one that definitely does not involve running a hedge fund.
Mendillo has ruled out launching one, saying she’d focus on other interests, including music, education and nonprofits. “Being the head of HMC is the best job in the world, and it is a capstone to my career in endowment management,” she told The Wall Street Journal.