Harvard University has grown its endowment to $36.9 billion -- some of which came from investments in private equity funds managed by Bain Capital LLC. Now, The Wall Street Journal reported Tuesday that the Ivy League institution is planning to sell $1.5 billion of its investments with Bain.
The Journal says a divestiture of that magnitude for Harvard would
be one of its largest ever. Could
this be Harvard's bearish signal that the private equity industry may be
in for a cold winter or just a matter of exiting while it can with a
healthy profit? In September before the revelation of the global credit
crisis, Harvard reported that the endowment grew by 8.6% during the
last fiscal year. - Gerald Magpily
See Reuters article
