BizJournals Portfolio
Home >   Business Views, Opinions and Blogs >   Business Blogs >   Market Movers >  

Did Arminio Fraga Turn Down The Harvard Endowment Job

Market Movers

by Felix Salmon
Main
The Fed's New Facility, Explained in English   Still Awaiting In-Flight WiFi

Recent Blog Posts

Links

Dec 12 2007 12:00am EDT

Did Arminio Fraga Turn Down the Harvard Endowment Job?

The Harvard Management Company, under the interim leadership of Robert Kaplan, is looking for a permanent replacement for the departing Mohamed El-Erian. In the meantime, it's taking a 12.5% stake in Gávea, the hedge fund run by former Soros fund manager and Brazilian central banker Armínio Fraga. (I can't find an English-language report on this, but here's one in Portugese.)

I believe that HMC has been an investor in Fraga's fund for some time, but this investment clearly brings the two institutions much closer together. My guess is that HMC asked Fraga if he'd be interested in taking over from El-Erian (Fraga would be a magnificent replacement), and Fraga said he wasn't interested in leaving Rio and moving to Boston (which is entirely understandable). But talks were friendly enough that the strategic 12.5% investment ended up being negotiated instead.

Of course, this is all utter speculation. But what else are blogs for?

blog comments powered by Disqus
Real Business, Real Results
Out of the 'Family'

Did anyone at Microsoft ever watch the (gasp!) offensively funny show Family Guy?

Cruz Missile Lands

Ex-Morgan Stanley exec Zoe Cruz is now heading her own hedge fund. Are Wall Street's leaders done?

Scandal Chic

Martha, Bernie and Skilling know that what you wear for court can go a long way in public perception.

spotlight on

Health Care

Bad to the Bone No More

Companies such as General Mills say they're stepping up efforts to change employees' bad behavior and promote healthier lifestyles. Read More