You might remember Jack Meyer, he used to run the Harvard endowment fund and made them hundreds of millions and was paid accordingly. Some alumni didn’t like it and made a fuss so he left. He was underpaid in my eyes and evidently in his as well. So off Jack went and started his own hedge fund. In doing so, he set a record for the most money raised by a new hedge fund by raising $6 Billion to start. Harvard knowing his ability plans to invest $500 million in the new hedge fund. Harvard made a pretty smart move. More on the story from IBD here.