Harvard Management Company

Harvard Management Company, Inc. or HMC is an American investment management corporation, a wholly owned subsidiary of Harvard University charged with managing the university's endowment, pension assets, working capital, and non-cash gifts. HMC is best known for managing the university's $53.2 billion endowment, the largest endowment in higher education in the United States. Since its inception, HMC has been tasked with the singular mission to generate strong long-term results to support the educational and research goals of Harvard University. This long-term focus has given us an edge in many facets of investment management. We were among the earliest institutional investors in venture capital, one of the first and largest investors in timberland assets, and a leading investor in some of the most successful absolute return and direct investment strategies. Being an early entrant and bringing long-term focus has often allowed us to establish unique investment positions in less crowded areas. As a result, our portfolio has significantly outperformed a typical 60/40 stock/bond portfolio and the average endowment portfolio. This outperformance has contributed billions of dollars to Harvard University. Harvard’s endowment is a dedicated and permanent source of funding that maintains the teaching and research mission of the University. Established in 1974, Harvard Management Company invests these funds as a single entity, the revenue from which contributes more than one-third of the University’s annual operating budget. Made up of more than 14,000 individual funds invested as a single entity, the endowment’s returns have enabled leading financial aid programs, groundbreaking discoveries in scientific research, and hundreds of professorships across a wide range of academic fields.