HMC Managing Director Joined Business Leaders and Investors in Exclusive Israel Trip

Managing Director of Investment for the Harvard Management Company, Adam Goldstein, joined 65 business leaders and investors for a five day trip to Israel this week.

Throughout the trip, Goldstein received confidential military and political briefings from former Israeli Prime Minister Nafatali Bennett and met with Israeli President Isaac Herzog.

The trip — designed to show support for Israel during the conflict with Hamas — comes amid ongoing tensions on campus over the war. Harvard faced widespread backlash over its initial delayed statement and failure to condemn Hamas’ Oct. 7 attack on Israel, and the University is currently facing a congressional investigation for antisemitism on campus.

Throughout the week, the “Israel Tech Mission” delegation met with Israeli Defense Force soldiers stationed in three cities east of the Gaza Strip, attended a series of panels and meals with Israeli government officials and industry leaders, and spoke with the families of hostages released by Hamas.

Goldstein’s visit to Israel also marked a chance to explore potential areas of investment for Harvard one month after HMC reported that the market value of the University’s endowment fell for the second straight year from $50.9 billion to $50.7 billion.

Though the financial involvement of Harvard’s endowment in Israel remains largely unknown, as of 2019, $86,625 was linked to the Israeli military and roughly $200 million was directly invested in companies the United Nations identified as being tied to Israeli settlements in Palestine.

Goldstein’s participation in this week’s delegation was the latest demonstration of the HMC’s continued commitment to its investments in Israel after facing student criticisms last spring by the Boycott, Divestment, Sanctions movement, which called on the University to cut ties with Israel over its settlements in Palestine.

The delegation was made up of private equity leaders, consultants, CEOs, and executives from Bain Capital and Mastercard. Those in attendance completed an online application to be selected and were responsible for covering all trip expenses, according to the Intercept, the media outlet that first reported the trip.

HMC spokesperson Patrick S. McKiernan declined to comment on the details of Goldstein’s trip.

“The arrival and support of this incredible group of investors and executives are very meaningful for Israel’s business ecosystem and for all of us personally,” said Michael Eisenberg, co-founder of a Tel Aviv venture capitalist firm who was in attendance. “These personal and economic relationships will be crucial for building a better future.”

The delegation will also meet with Eugene Kandel, the Chair of Tel Aviv Stock Exchange, for lunch Thursday. The Israel Stock Exchange experienced billions of dollars in losses due to foreign investors selling assets following Hamas’ attack on Israel on Oct. 7 and Prime Minister Benjamin Netanyahu’s controversial judicial reforms.

“Smart investors understand Israel’s resilience and that today is actually the perfect time to invest in Israel,” Eisenberg said.

The delegation will complete its week-long trip Thursday with optional programming that includes a meeting with Herzog at his residence.

—Staff writer Sidney K. Lee can be reached at sidney.lee@thecrimson.com. Follow her on Twitter @sidneyklee.

—Staff writer Thomas J. Mete can be reached at thomas.mete@thecrimson.com. Follow him on Twitter @thomasjmete.