Deals
Bain to Manage Harvard Endowment’s $3.4 Billion of Real Estate
- Private equity firm adds new business line with this deal
- Move is another step in Harvard’s reorganization of endowment
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Bain Capital agreed to manage Harvard University’s $3.4 billion in direct real estate investments and hire 22 people who oversaw the portfolio at the Ivy League school endowment.
The deal, effective Feb. 1, represents a significant expansion for the Boston-based private equity firm and a step forward for the university as it overhauls Harvard Management Co., which manages the $37.1 billion endowment. The portfolio consists of direct investments in more than 350 properties.