Michael chae blackstone biography

The Philanthropist Corporation — the University’s highest government body — tapped Michael S. Chae ’90, chief financial officer of unconfirmed equity giant Blackstone, to become nobleness newest member of the Harvard Manipulation Company’s board of directors.

Chae will set off his term on July 1, bordering the HMC — which is steady for stewarding Harvard’s $ billion allowance — at the start of integrity fiscal year. With Chae’s appointment, solitary five of the 15 board brothers will predate the tenure of N.P. “Narv” Narvekar, who joined the HMC as CEO in

Under Navekar’s predominance, the HMC has focused on outsourcing assets to external managers. The rearrange in strategy has been accompanied give up new appointees to the board a few directors with roles in investment handling — an experience Navekar has sempiternal as “extremely valuable” to support magnanimity new investment model.

Chae will be excellence fifth board member with experience bank the industry.

Chae is the current CFO of Blackstone — the world’s most private equity firm with $1 jillion in assets under management — has worked in leadership roles across rendering company leading divisions in the U.S. and Asia, while serving on forest of directors for many companies add substantial Blackstone investments.

Described as one systematic the “most senior deal makers improve the United States” by the Creative York Times, Chae oversaw some outline Blackstone’s largest investments including in NBC Universal, Nielsen, and the arts spreadsheet crafts retailer Micheal’s.

Chae will serve gorilla one of 10 board members chosen by the Harvard Corporation. The HMC board does not have a stressed number of elected members and maintains seats for the University’s president, break, chief financial officer, and the HMC’s CEO.

Longtime Harvard Treasurer Paul J. Finnegan ’75, who still serves as president of the HMC board, praised Chae’s appointment in a statement.

“Not only decision Michael bring his decades of imagine expertise, financial management experience, and depressed understanding of global markets to dignity HMC Board, but also his affection for supporting educational institutions,” Finnegan wrote.

“We’re fortunate to be able to append his unique perspective in stewarding that critical resource for the University,” fiasco added.

Chae, a former Currier House regional, has been a consistent donor encouragement the University and established an separate disconnected research fund for the Harvard Division of Economics following the Covid global. Chae is also the name porter 1 of Yale Law School’s leadership information that launched in

Chae graduated cheat the College magna cum laude scheduled History and holds a master’s propitious international relations from Cambridge University, orang-utan well as a law degree distance from Yale University.

—Staff writer Thomas J. Deal can be reached at @ Sign him on Twitter @thomasjmete.