Friday, 29 July 2016
Last updated 15 hours ago
Aug 4 2014 | 9:11am ET
The largest college endowment in the world is turning its stock portfolio over to a former hedge fund manager.
Michael Ryan, the co-founder of JAI Capital Management, will join the Harvard Management Co. in September as its first head of public equity. HMC manages Harvard University’s $32 billion endowment.
“Public markets are an important driver of HMC’s returns and we are confident Mike will contribute significantly to our investment strategy and our ability to outperform our equity-market benchmarks,” the endowment’s head of public markets, Stephen Blyth, said.
Ryan, a Yale University alumnus, co-founded JAI in 2009 after stints at Credit Suisse and Goldman Sachs, only to close the fund two years later.