The Harvard Management Company, which operates the Harvard University endowment, will keep its private equity managers on staff amid a mass departure of teams of internal managers, pfm understands.
The private equity group will form part of a new generalist investment management team at HMC, headed by newly hired managing directors Vir Dholabai, Adam Goldstein and Charlie Saravia.
Rick Slocum will join the team as chief investment officer from March. He was chief investment officer at The Johnson Company, a large single-family office in New York. Dholabai, Goldstein and Saravia will start at the end of January.
The investor’s real estate group will spin out to manage investments externally, while the hedge fund investment team will leave at the end of the 2017 fiscal year.
The move will reduce the company’s 230 headcount by around 50 percent.