Harvard Is Borrowing Money To Invest in Private Equity and Hedge Funds

Highlights from the “roadshow” for $450 million in new debt

An offering document for Harvard’s latest bond issue.

If someone showed up at your door wanting to borrow $7 billion to invest in private equity and hedge funds, you might wonder about their recent track record.

Here—obtained from the “roadshow” slides of the relevant borrower—are the asset allocation and the results, along with some commentary and analysis.