Tuesday, May 23, 2017

The Superior Move of a Crony Capitalist

From the Harvard Crimson:
Soon after[William F.] Lee became the senior fellow of [Harvard's secretive] Corporation in 2013, he solicited advice from the chairs of other prominent nonprofit boards. He eventually found himself across the table from [Carlyle Group founder David] Rubenstein, whose deep knowledge of higher education institutions made him an appealing lunch partner. Laurene Sterling, who serves with Rubenstein on Duke’s board of trustees, said his leadership on the board “has just been transformational.”

Lee and Rubenstein chatted amicably over lunch, but Lee said Rubenstein was candid in his assessment of what he should prioritize as senior fellow.

“He was direct, he was honest, he gave me his views of what was strong at Harvard, what wasn’t strong at Harvard,” Lee said.“The only awkward moment is when I offered to pay the luncheon bill and he said, ‘You don’t have to because I own the restaurant.’”

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