In Major Shake Up, Harvard’s $35.7 Billion Endowment To Spin Out Real Estate Investment Team

Harvard Management Co. (HMC), which manages Harvard University’s $35.7 billion endowment fund — the country’s largest endowment – announced a major investment shake up today in a letter to the Harvard community from N.P. (Narv) Narvekar, who took over as president and chief executive officer of Harvard Management Co. last month.

The move will include cutting half of Harvard Management’s staff and a spin-out of its highly regarded real estate team…