Jun
26
Harvard Billionaires Bail Out Alma Mater From Poor Fund Returns
ByThe university’s endowment returns may lag the Ivy League average, but Wall Street’s elite make the school a fundraising powerhouse.
Three years ago, hedge fund billionaire John Paulson offered his alma mater, Harvard Business School, an enormous gift. Nitin Nohria, the school’s dean, responded in a way that would shock most other charitable organizations: Thanks, but we don’t need it. Instead, Nohria suggested that Paulson direct the money toward Harvard’s engineering school, according to people familiar with the exchange. So, in 2015, Paulson did just that, giving $400 million, a gift the university called its largest ever…
Harvard Billionaires Bail Out Alma Mater From Poor Fund Returns
