Bloomberg Businessweek

No Use for Old School Ties

Michael McDonald

• Harvard’s endowment is firing money managers, including one big donor

• The university has brought in “a new broom to sweep clean”

Eric Mindich has been good to Harvard, and until recently, Harvard had been good to him. Mindich, class of 1988, landed a coveted seat on the school’s endowment board after he became a partner at Goldman Sachs Group Inc. in the 1990s. In the 2000s, when he left the company to start a hedge fund, the university invested $500 million with him, helping to make it the biggest hedge fund launch at the

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