Is Harvard’s Endowment Just a Stepping Stone?

Greenwich-based Tudor Investment Corporation is one of many asset managers capitalizing on Harvard’s endowment exodus of professional investment managers. Emil Dabora, who was managing director and head of developed equity markets at Harvard Management Company (HMC), was hired to fill the newly-created position of global event-driven equity strategy at Tudor Investment. Dabora will be located in Boston and form a team to run some of the assets of the hedge fund’s BVI Global Fund. Since 2009, Dabora was employed at HMC and is the latest investment professional to leave the struggling endowment. Before HMC, Dabora worked at Caxton Associates, another hedge fund. HMC has around US$ 35.9 billion in assets, making it the largest private university endowment in the United States. For the fiscal year that ended June 30, Yale’s endowment posted a return of 20.2%, while Harvard’s endowment posted a return of 15.4%. Harvard’s endowment has been among the lowest for returns among Ivy League endowments since the collapse of the market in 2008.

Other Departures – 2014

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