Harvard University’s endowment is in advanced talks to sell about $1 billion of private equity fund stakes, at a time when the school faces financial uncertainty compounded by pressure from President Donald Trump’s threats and a sluggish market for returns on illiquid assets.
Harvard Management Co., which runs the largest fund in US higher education, is working with Jefferies Financial Group Inc. to offload the portfolio to Lexington Partners in a so-called secondaries transaction, according to people with knowledge of the matter. Lexington may ultimately bring in partners as part of any purchase, said one of the ...
