Harvard Money Manager Departs

Melinda Barber, a managing director at Harvard Management Company—the University’s investment arm—will leave the University, Bloomberg reported Tuesday.

Barber, who has worked at HMC since 2012, will move on to a position at Pilot House Associates, the family office of billionaire and former cable TV magnate Amos B. Hostetter Jr. Barber specializes in private equity and was promoted this year to her position of managing director at HMC, according to Bloomberg.

Her departure comes at a time when HMC’s CEO N. P. “Narv” Narvekar is reducing staff and shifting assets to external managers. Last month, the real estate team spun off to Bain Capital, and Harvard has invested in the hedge funds of former HMC money managers.

Last January, Narvekar announced he planned to cut HMC’s 230-person staff by more than half. Bloomberg reported Tuesday that Narvekar has cut around 100 jobs since he joined HMC in late 2016.

Since taking over in Dec. 2016, Narvekar has also implemented a shift towards generalist management. Narvekar announced in his September letter to Harvard affiliates that managers formerly responsible for individual portfolios will be responsible for the entire portfolio and will be compensated based on overall returns.

HMC spokesperson Patrick Mckiernan declined to comment on Barber’s departure or the reductions in staff.

—Staff writer Eli W. Burnes can be reached at eli.burnes@thecrimson.com.