Dartmouth Board Members Accused of Enriching Own Firms

Tim Goral's picture
Tuesday, May 29, 2012

New Hampshire's attorney general is looking into claims of conflicts of interest against members of the board of trustees and the investment committee of Dartmouth College in regard to their management of the college's $3.4 billion endowment.

Anthony Blenkinsop, the Concord-based director of charitable trusts for the state of New Hampshire, said he is in the process of reviewing a letter sent to New Hampshire Gov. John Lynch and Attorney General Michael Delaney. The letter calls for an investigation into money managers who have invested the Hanover, N.H.-based college's assets while members of the investment committee.

Mr. Blenkinsop, who is a member of the attorney general's staff, said the office will determine whether to conduct an investigation after the initial review.

A group of Dartmouth faculty members, university employees and alumni — none of whom has come forward publicly — sent the letter earlier this year, but its contents only recently became public when it was posted on an unofficial university blog. The letter accuses the money managers of “enriching themselves” through private equity, venture capital and hedge fund investments made by the endowment.

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