Deals
Harvard Said to Seek Sale of Slumping Natural Resources Assets
- Brazil timberland, California vineyards in $4 billion holdings
- Endowment taking steps to refine, streamline assets, HMC says
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Harvard University, the world’s richest school with a $35.7 billion endowment, is seeking to sell natural resources assets after the portfolio lost money last year, two people with knowledge of the matter said.
The university is looking to restructure the $4 billion of holdings to free up cash for other investments, according to one of the people, who declined to be named because the information is private. The portfolio, once considered a crown jewel in the endowment, is vast with assets including timberland plantations in Central and South America, a dairy farm in New Zealand, and vineyards in California.