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Harvard Piles Into Hedge Funds as New Chief Overhauls Endowment

  • It’s a contrarian bet as other institutions head for the exits
  • Success could help the school turn around its lagging returns
Bloomberg business news
Harvard Doubles Down on Hedge Funds in Endowment Overhaul

Harvard University’s N.P. “Narv” Narvekar is doubling down on an investment that has fallen out of fashion: hedge funds.

Narvekar’s bet on the sophisticated, high-cost brand of money manager marks the biggest since the university hired him in 2016 to turn around the lagging performance of its $39 billion endowment.