Day: October 10, 2020

Harvard Spins Out Natural-Resources Team, Ending Long Chapter at Endowment

Harvard University’s endowment has spun out its natural-resources team into an independent investment firm that will take over some of the endowment’s portfolio of orchards, farms and plantations.

Harvard Management Co. and insurer American International Group Inc., or


AIG -1.02%

are expected to contribute some $200 million each as anchor investors to the new Boston firm, Solum Partners, people familiar with the matter said. They will also invest in a portfolio of assets the firm is buying from Harvard that includes fruit orchards, soybean plantations and stakes in companies that distribute avocados and make olive oil.

The spinout shrinks the $41.9 billion endowment’s controversial natural-resources portfolio and marks the exit of the last group inside Harvard tasked with running an entire asset class directly without outside fund managers. Solum is led by Colin Butterfield, a 47-year-old Brazil native who before Harvard managed Brazilian farmland for an investment venture

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Insurance Firm Says Workers Snuck Competitor Trade Secrets

Law360 (October 7, 2020, 4:32 PM EDT) — A Pennsylvania insurance firm said employees at a recently acquired Pittsburgh-area office had been feeding trade secrets to a competitor before defecting, according to a lawsuit filed in federal court Wednesday.

Harrisburg-based Keystone Agency Investors LLC said that when it acquired insurance business Duncan Financial Group in June, current or former Duncan employees Daneen Hayden, Dina Desiderio and Rebecca Varga were already in the midst of a scheme to transfer the company’s confidential information to CSC Insurance Professionals and defect to KAI’s competitor.

“Around the end of 2019 or beginning of 2020, Hayden began conspiring to leave Duncan to work for…

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PFI newsletter: My hack for making money decisions

Welcome to Personal Finance Insider, a bimonthly newsletter that connects you with the stories, strategies, and tips you need to be better with money.

PFI Newsletter Decision Making 4x3

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Here’s what: My hack for making simple money decisions

It took me years to admit I have decision paralysis.

That is to say, it can be really difficult for me to make even the simplest decisions in my personal life, from what to get for dinner to what soap scent to buy. I’ll often ask someone else to choose for me or just abandon the task at hand.

I used to tell myself I was being thoughtful or methodical, but it’s really just a self-imposed burden — especially when it comes to money. Somewhat miraculously, I’ve managed to hack my own decision-making system so my finances won’t suffer the same fate as my wardrobe (clothes shopping is my decision muscle’s worst enemy). The

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