In sifting through all of the press coverage around Ellen Pao’s attempt to get $176 million out of Kleiner Perkins, I missed one salient feature: Pao met her husband, the then-gay Buddy Fletcher, at the Aspen Institute (Pao’s profile on the organization’s “Global Leadership Network” section; see also Fletcher’s page).
In case the various investor lawsuits against Fletcher motivate the Aspen folks to edit their site, I am cutting and pasting the most important parts here:
Alphonse pursues an uncommon investment strategy combining traditional investment management, corporate finance, quantitative methods, and social responsibility. Since 1991, Fletcher Asset Management has invested more than $1 billion in dozens of promising companies. In 1996, the company had about 25 employees, and there were days when Fletcher, this tiny company (by Wall Street standards), accounted for more than five percent of the New York Stock Exchange’s trading volume. Alphonse started working in the investment arena after graduating from Harvard in 1987. He first joined the Wall Street investment firm of Bear, Stearns & Co. and in 1989 was lured away by GE’s Kidder, Peabody & Co., a giant in the Wall Street-based investment industry. Alphonse soon became an active philanthropist. The recipients of his generosity have been the NAACP, Harvard University, Alvin Ailey Dance Theater, New School for Social Research, and the Joseph Papp Public Theater/New York Shakespeare Festival. In collaboration with other groups, Alphonse has launched a $50 million multi-year initiative in education which includes a fellowship program providing $50,000 fellowships to educators, lawyers, scientists, artists, economists, and others who work toward equality. Alphonse was named “Entrepreneur of the Year 1999” by Ernst & Young. He has an A.B. from Harvard University and a Masters degree from the Yale Environment School. Alphonse is a member of the 2007 class of Henry Crown Fellows and the Aspen Global Leadership Network at the Aspen Institute.
I guess we should give the Aspen folks credit for realizing that Fletcher had “an uncommon investment strategy.”
Can readers think of another love story that would be more consistent with going from Harvard to the global douchebag circuit? Here’s my personal entry: “We met at the Aspen Institute and then fell in love at dinner seated between the Dalai Lama and Desmond Tutu at Davos.”
[And separately, if these two are representative of America’s contribution to the current global elite is it any wonder that our economic growth is anemic?]
- NYT on Buddy Fletcher’s alleged Ponzi scheme
- “Buddy Fletcher: Financial Genius — or a Fake?” (Boston Magazine)
- “Sex, Lies, and Lawsuits” (Vanity Fair article on the happy couple)
- February 2015 Ellen Pao post
- March 2015 Ellen Pao post
- Post-trial Wrap-Up
- Divorce litigators’ perspective on Ellen Pao (the Vanity Fair article, above, reveals that Pao was previously in divorce court with “Roger Kuo, now a San Francisco finance executive”)
- Post-Reddit-firing posting (with interesting analysis from Pao’s former co-worker at Microsoft)
- Guidestar page on Aspen Institute (IRS Form 990 for 2013 shows that the tax-exempt non-profit had $95.5 million in revenue and $22.7 million in profit in 2013; the CEO was paid $853,336)