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Harvard's Endowment Wants To Sell $2.5B Of Real Estate, Private Equity

Harvard University's Widener Library

The country’s largest Ivy League endowment wants to sell around $2.5B in real estate assets and private equity investment as it continues to try and redefine itself.

A person familiar with the matter said Harvard Management Co., the unit that manages Harvard University’s $35.7B endowment, hired Cogent Partners to market $1.6B of real estate and nearly $1B of venture capital and private equity investments, Bloomberg reports. The move follows the endowment’s decision earlier this year to transfer its real estate investment team from Harvard Management to an external manager.

Harvard’s endowment has been facing some headwinds as of late, having underperformed its peers last year, reporting a 2% annual investment loss for the fiscal year ending in September. This sale could represent a shift in strategy as Harvard Management’s newest CEO, N.P. Narvekar, tries to turn things around.