Here's $5 billion. Can you quintuple it?

That's what Jack Meyer did for Harvard over the last 15 years, generating the highest endowment returns of any university in the country. But it wasn't good enough for folks at Harvard, because they expect such returns without having to pay the managers market rates to get them. A successor was named today:
Harvard Names New Head of $25.9 Billion Endowment Fund - New York Times

The article is silent on the compensation plan for the new managers--not too surprising, as transparency is what did in the last regime. It should be noted that the payments to Meyer that outraged the alumni were entirely performance based, the result of beating well established benchmarks over a period of years. We'll all be watching to see how Harvard does in the future.