Harvard Endowment Gets New Board Members

Former Federal Reserve governor Jeremy Stein and Canyon Partners co-CEO Joshua Friedman have joined the board of Harvard Management Company.

Havard Management Company, which runs the Cambridge, Massachusetts-based university’s $36.4 billion endowment, has appointed two new members to its board of directors.

Jeremy Stein is the Moise Y Safra Professor of Economics at Harvard, having returned to the university last year following a two-year spell as a member of the board of governors at the US Federal Reserve system. This marks his third stint at Harvard, having been an assistant professor of finance from 1987 to 1990, and as a professor in the business school from 2000 to 2012.

Joshua Friedman has also joined the board. He is co-founder, co-CEO, and co-chairman of Canyon Partners, a hedge fund and real estate asset manager based in Los Angeles, California. The group has more than $24 billion in assets under management, according to its website. Friedman has a long history with the university: he has degree in physics from Harvard College, a law degree from Harvard Law School, and an MBA from Harvard Business School.

The duo joined the board of the Harvard Management Company on July 1. Paul Finnegan, chairman of the board, told Bloomberg the pair are “terrific additions”.

Related: The Endowment Bracket: Harvard, Yale, and the Sweet Sixteen