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OT: Rutgers Grad Schwartz Named CEO of Carlyle Group

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RU4Real

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Do we know anything about Harvey's relationship with the school and / or athletic department? We had a Rutgers grad as CEO of Ford for some time, but strictly in terms of benefits to athletics I don't know that the connection amounted to anything.

And of course, there's Bernie Marcus, who apparently hates / resents all things Rutgers.
 
Knight Shift

Knight Shift

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RU4Real said:
Do we know anything about Harvey's relationship with the school and / or athletic department? We had a Rutgers grad as CEO of Ford for some time, but strictly in terms of benefits to athletics I don't know that the connection amounted to anything.

And of course, there's Bernie Marcus, who apparently hates / resents all things Rutgers.
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Yes we do. He helped launch the road to wall street program with RBS. He is an extremely loyal son.

"While he was enamored with economics from the start, he wasn’t really aware of Wall Street or the opportunities that existed in the financial industry. But he did benefit from people who were willing to take time to help him and give him opportunities.


“I owe Rutgers an incredible debt,” Schwartz said.


He said he got his own introduction to mentoring as a resident advisor when he was a student living in the Quads on the Livingston campus. “I’ve always prided myself on being a mentor to as many people as I could,” he said. "

The Quads as a mentoring pathway. Never thought of the Quads that way. As the song goes by Dave Edmunds: From Small things, big things one day come.


Schwartz received financial aid from Rutgers to complete his bachelor’s degree and dedicates his time and financial support to help support current students in their academic endeavors. Among his many philanthropic efforts, he endowed a $1 million scholarship through Goldman Gives to annually pay tuition and fees for four full-time School of Arts and Sciences undergraduate students. Since the scholarship’s creation in 2010, 25 students have been recipients of aid.

Schwartz sits on the Rutgers University Board of Overseers and the School of Arts and Sciences Dean’s Advisory Council.

 
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RU4Real

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Knight Shift said:
Yes we do. He helped launch the road to wall street program with RBS. He is an extremely loyal son.

"While he was enamored with economics from the start, he wasn’t really aware of Wall Street or the opportunities that existed in the financial industry. But he did benefit from people who were willing to take time to help him and give him opportunities.


“I owe Rutgers an incredible debt,” Schwartz said.


He said he got his own introduction to mentoring as a resident advisor when he was a student living in the Quads on the Livingston campus. “I’ve always prided myself on being a mentor to as many people as I could,” he said. "

The Quads as a mentoring pathway. Never thought of the Quads that way. As the song goes by Dave Edmunds: From Small things, big things one day come.


Schwartz received financial aid from Rutgers to complete his bachelor’s degree and dedicates his time and financial support to help support current students in their academic endeavors. Among his many philanthropic efforts, he endowed a $1 million scholarship through Goldman Gives to annually pay tuition and fees for four full-time School of Arts and Sciences undergraduate students. Since the scholarship’s creation in 2010, 25 students have been recipients of aid.

Schwartz sits on the Rutgers University Board of Overseers and the School of Arts and Sciences Dean’s Advisory Council.

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Well, let's hit him up, then!
 
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Knight Shift

Knight Shift

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mdk01 said:
Oops
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It was written as an "if" statement, and he may have been right about that. Thankfully, he was extremely engaged on the academic side, which, quite frankly, is a lot more important than athletics. If he chooses to give to athletics, that is a bonus. At least he is engaged--and he is in a very big way. Kudos to him.

It's a shame RU could never establish a connection with Home Depot, one of the founders be a RU Newark alum. There could be some fantastic NIL opportunities with Home Depot. They are prominent and ESPN's college game day.
 
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Knight Shift

Knight Shift

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RutgersDom said:
My company was bought by Carlyle about a year ago so I guess I work for him! :)
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Oh My God Omg GIF by The Office


Can you march right into his office and ask him to donate $10 Million to Knights of the Raritan?
 
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Scarlet1984

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beaced said:
Soft on the pedal.Congrats are in order and then let nature do its thing.
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Soft of the pedal Beaced. He’s already a significant donor on the academic side, so I don’t think anyone was taking Ru4’s post as an action item.
 
Knight177lb

Knight177lb

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I keep telling people, if you do well at Rutgers, you can get into the most elite graduate MBA programs. Here's a perfect example. Same goes for medical and law schools. Take the savings on tuition from Rutgers and put it towards graduate school.

Just think if The Carlyle Group wanted to use our athletes NIL. That would be so huge.
 
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Scarlet1984

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Knight177lb said:
I keep telling people, if you do well at Rutgers, you can get into the most elite graduate MBA programs. Here's a perfect example. Same goes for medical and law schools. Take the savings on tuition from Rutgers and put it towards graduate school.

Just think if The Carlyle Group wanted to use our athletes NIL. That would be so huge.
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I can’t see a PE group finding an NIL. A fund wouldn’t pay for it and I wouldn’t think the partners would pony up.
 
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rucoe89

rucoe89

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Scarlet1984 said:
I can’t see a PE group finding an NIL. A fund wouldn’t pay for it and I wouldn’t think the partners would pony up.
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How long until someone creates a financial instrument for NIL? The instrument would work such that you get the money and its yours, but if you make it pro they get a percentage of your signing bonus or first contract.
 
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PSU_Nut_rivals17625

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Scarlet1984 said:
I can’t see a PE group finding an NIL. A fund wouldn’t pay for it and I wouldn’t think the partners would pony up.
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I agree. This isn’t a fan boy owned company. They can’t just throw money at things like this. What does a the company gain from it? That is why most of the money is coming from collectives or privately owned companies.
 
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PSU_Nut_rivals17625

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rucoe89 said:
How long until someone creates a financial instrument for NIL? The instrument would work such that you get the money and its yours, but if you make it pro they get a percentage of your signing bonus or first contract.
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I am sure there are people trying already but I am sure schools are advising kids against it. It would be the NIL payday loan. The only way you make money is by charging outrageous terms because you have hedge against the busts and injuries. It would be loan shark rates.
 
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mdk02

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rucoe89 said:
How long until someone creates a financial instrument for NIL? The instrument would work such that you get the money and its yours, but if you make it pro they get a percentage of your signing bonus or first contract.
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Why would they get into something that complicated, subject to NCAA review and for such relatively small dollars? They can set up (and may already have) a charitable donation match (with a cap) for gifts to a "Friends of RU (insert sport) Fund".
 
czxqa

czxqa

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mdk01 said:
Oops
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No oops. I didn't know the first thing about the guy. I said IF he's not already engaged, don't expect it to change. So he's deeply involved on the academic side. That's great and I'm sure Pats already been hitting him up.
 
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czxqa

czxqa

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rucoe89 said:
How long until someone creates a financial instrument for NIL? The instrument would work such that you get the money and its yours, but if you make it pro they get a percentage of your signing bonus or first contract.
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That's already been happening for years, mostly with minor league ballplayers. I ran across this piece about one outfit that does it, can't imagine they're the only ones
https://www.cbssports.com/college-f...ge-nil-riches-for-portion-of-future-earnings/
 
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MidwestKnights

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RUBeta said:
Harvey Schwartz, a Rutgers grad, was just named CEO of the Carlyle Group. The Carlyle Group is one of the pre-eminent private equity funds in the world. This puts Schwartz squarely as Rutgers most (or one of a handful) most influential and visible alum.

Harvey Schwartz named CEO of Carlyle Group
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He lost out to David Solomon at Goldman when Lloyd Blankfein retired. The Goldman powers that be seem to be having 2nd thoughts about that decision.

Schwartz was probably the better choice.
 
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blueoyster

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RU4Real said:
Do we know anything about Harvey's relationship with the school and / or athletic department? We had a Rutgers grad as CEO of Ford for some time, but strictly in terms of benefits to athletics I don't know that the connection amounted to anything.

And of course, there's Bernie Marcus, who apparently hates / resents all things Rutgers.
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What's the story with Bernie Marcus...anyone know the deets??
 
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pmvon

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Scarlet1984 said:
I can’t see a PE group finding an NIL. A fund wouldn’t pay for it and I wouldn’t think the partners would pony up.
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A fund wouldn’t but corporate could. Don’t think it’s realistic though.

More likely, a private equity owned company, say something like Jersey Mikes, would.
 
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RutgersNo1

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“Schwartz is set to earn $1 million as base salary and up to $3 million as annual bonus. He will be granted Carlyle stock valued at $180 million on his start, regulatory filings showed.”
 
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imoapie

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pmvon said:
A fund wouldn’t but corporate could. Don’t think it’s realistic though.

More likely, a private equity owned company, say something like Jersey Mikes, would.
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Neither a fund nor corporate would do this because where is the value prop? The fund is in business to generate returns otherwise it won’t be in business. On top of that there is something called fiduciary duty. Lastly, corporate and more importantly its profits are divided by every MD in the place so good luck convincing those dudes to take money out of their pockets for Rutgers NIL where they likely have thousands of internal projects caught up in the pipeline. Maybe their foundation arm, if it exists, but they probably have more noble causes.
 
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pmvon

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imoapie said:
Neither a fund nor corporate would do this because where is the value prop? The fund is in business to generate returns otherwise it won’t be in business. On top of that there is something called fiduciary duty. Lastly, corporate and more importantly its profits are divided by every MD in the place so good luck convincing those dudes to take money out of their pockets for Rutgers NIL where they likely have thousands of internal projects caught up in the pipeline. Maybe their foundation arm, if it exists, but they probably have more noble causes.
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That’s why I said it wasn’t realistic
 
RUnTeX

RUnTeX

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Schwartz was most likely already approached by Athletics back during his Goldman days (up until 5 years ago when he was COO but then came in 2nd to Solomon on being named CEO). That would have been in the middle of the B1G Build Fund campaign as well so if he had any personal interest in supporting athletics at that point it could have made sense to make an impact. Just prior to that timeframe, however, would have been during the university's $1Bn fundraising/capital campaign where he may have donated on the academic side, aligning with the Wall Street/Rutgers SAS scholarship he has endowed.

Livingston College '87 grad though I'm not sure if he was a joint SBNB (now RBS) degree as an undergrad at the time. He may have very well broken into finance without necessarily studying in the upper-division business school back then. Followed later with a Columbia MBA....he may also be a donor to their already deeper pockets, if that's his prerogative.
 
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mdk02

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RutgersNo1 said:
“Schwartz is set to earn $1 million as base salary and up to $3 million as annual bonus. He will be granted Carlyle stock valued at $180 million on his start, regulatory filings showed.”
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Those shares are likely restricted stock that vest over a number of years and none at the date of the initial grant. Not shedding any tears even though I believe they are subject to the 1.45% Medicare withholding on the grant date. I figure he can cover it.
 
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RUnTeX

RUnTeX

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RUb-it-in said:
His founding co-partner @ Home Depot funded the free tuition for medical students @ NYUa ew ars ago.
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Weren't Marcus and Blank the original co-founders of THD and Langone one of their first investors? Either way, what he did for NYU med school students was pretty amazing.
 
29PAS

29PAS

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MidwestKnights said:
He lost out to David Solomon at Goldman when Lloyd Blankfein retired. The Goldman powers that be seem to be having 2nd thoughts about that decision.

Schwartz was probably the better choice.
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David Solomon is a Rutgers graduate also. Sorry if everybody already knew that.
 
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RUKen

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29PAS said:
David Solomon is a Rutgers graduate also. Sorry if everybody already knew that.
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I did not know that. Unlike Harvey I have not seen his presence felt anywhere relating to Rutgers
 
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