Harvard's Endowment Said to Anchor Ex-Apollo Partner Fund
- Bet is made on distressed energy in push to boost returns
- In annual report, CEO cited plan to increase private equity
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Harvard University’s endowment, in backing a distressed energy fund started by former Apollo Global Management LLC executive Sam Oh, is following through on a plan to invest more in private equity as part of an overhaul under its new chief executive officer.
Harvard is an anchor investor in the fund, which is seeking $500 million to $1 billion, according to two people with knowledge of the matter. The new firm, Mountain Capital Management, will invest in distressed oil and natural gas production and exploration companies that need restructuring and recapitalization, said the people, who asked not to be named because the information is private.