The Harvard University, whose endowment was valued at $32 billion as on June 30, is looking to offload about $1.5 billion of holdings in private equity funds, Pensions & Investments reports. The move comes as the university seeks to further reduce investments that contributed to record losses three years ago.
Harvard Management Co., which oversees the university’s endowment, is planning to sell about $1 billion of stakes in mainly U.S. buyout funds through UBS. It has already received bids for about $500 million in energy investments through Cogent Partners.
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