Harvard Endowment: Private Equity an “Important Driver in Returns in our Portfolio”
Beginning in April, Richard Hall, former head of private equity at the Teacher Retirement System of Texas, will succeed Lane MacDonald as the new head of private equity for Harvard University’s endowment.
“Private equity has been and continues to be an important driver in returns in our portfolio,” said Harvard Management Co. chief executive Jane Mendillo.
Private equity delivers superior returns to its investors, which translate to more funds for college financial aid and scholarships, and more funds for university research, as well as stronger public employee pension programs, and causes supported by charitable foundations.
According to The Boston Globe, “Harvard’s endowment had $32.7 billion in total assets at the end of June, the latest figure available. About $5 billion of that was allocated to private equity.”
Check out the whiteboard video below to learn more about who benefits from private equity investment.
