Harvard Buys Stake In Brazilian Alternatives Firm

Dec 13 2007 | 9:51am ET

Harvard University’s endowment fund has taken a 12.5% stake in a Brazilian alternative investment manager. Boston’s Harvard Management Co. has reportedly paid an undisclosed amount for 12.5% of Gavea Investimentos.

Harvard will have no say in the $5.5 billion firm’s investment strategy. Of course, the endowment is no stranger to Gavea’s strategy; it has been an investor in a Gavea private equity fund for years.

Gavea will invest the proceeds of the stake sale in its three business areas, which include Brazil-based and off-shore hedge funds, private equity and wealth management.

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