Harvard Management hires 2 executives

By Beth Healy
Globe Staff / August 6, 2009

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Harvard Management Co., which runs the nation’s largest university endowment, has hired two new investment executives as it looks to come back from a year of sharp losses. They are:

■ Emil Dabora, a senior managing director at Caxton Associates in New York, who will be an equity portfolio manager.

■ Michele Toscani, a managing director at Fortress Investment Group in Tokyo, who will join Harvard Management’s international fixed-income team.

Dabora, who holds a PhD in Economics from Harvard University and a bachelor’s in economics from MIT, worked at Morgan Stanley before Caxton.

Toscani has worked for Deutsche Bank and Lehman Brothers and holds a degree in economics and business from the University of Venice.

“Michele Toscani and Emil Dabora bring significant experience in domestic and international markets to HMC, adding depth and breadth to our equity and fixed income teams,’’ said Jane Mendillo, Harvard Management’s chief executive. “I am pleased to add these high-caliber and experienced investment professionals to our internal team as we strive to deliver long-term out-performance in support of the university’s mission of research and teaching.’’

Harvard’s endowment had $36.9 billion in assets on June 30, 2008, but the school has said it expects those assets to have fallen 30 percent through June 30 this year, to about $25.8 billion. Harvard reports fiscal-year results in September.

Beth Healy can be reached at