Harvard Endowment to Cut Staff by Half, Outsource Investments
CEO Narv Narvekar has begun his overhaul of the $35.7 billion endowment.
Newsmakers
GMO Appoints New CEO from QMA
Scott Hayward will take the helm of the value-investing firm come February 13.
Abu Dhabi Creates $125B SWF
Mubadala Development Company and International Petroleum Investment Company will join forces as Mubadala Investment Company.
New Mexico SWF Loses Private Equity Head
Portfolio strategist David Lee has been named acting director following the retirement of Greg Kulka.
Scaramucci Sells SkyBridge to Join Trump Administration
The hedge fund-of-funds’ investment team will remain intact, while the annual SALT conference will be spun out.
New York Life Selects New CIO
Tony Malloy has succeeded John Kim who was elected as the insurer’s president last year.
Researchers Find Link Between Investor Moods and Stock Performance
Securities that outperformed in positive mood periods are not likely to do well in negative mood seasons, according to research.
The Case for (Some) Hedge Funds
Only a small percentage of the world’s 11,000 hedge funds merit institutional capital, says Cambridge Associates—but the few good ones still bring “real value.”
Ex-Carleton College CIO Joins Minnesota Foundation
Jason Matz will oversee the $448 million foundation as well as four independent funds making up Arbor Philanthropy.
UK's NEST Hires Deputy CIO from PPF
John St. Hill will work directly with CIO Mark Fawcett in the newly created position.
Forty Under Forty Nominations Open
Recommendations for this year’s list of rising stars in the industry will be accepted until Feb. 20.
Former HP CIOs Join OCIO Firm
Ken Frier and Gretchen Tai will spearhead the new west coast office of SECOR Asset Management.
Norges Bank Appoints Asset Management CIO
Former portfolio management chief Geir Øivind Nygård has been named head of asset strategies at the Norwegian sovereign wealth fund.
Ironworkers In Cleveland to Vote on Whether to Reduce Benefits
Iron Workers Local 17 Pension Fund is the first multiemployer plan to win approval from the Treasury Department to reduce benefits.
Future of Social Security Benefits in Question
SS benefits are on par for a 31% reduction by 2029, CBO reports.