Harvard University's endowment is in advanced talks to sell private equity fund interests totaling about $1 billion amid financial uncertainty and President Donald Trump's threats to cut federal funding, according to Bloomberg News on Thursday.
Harvard Management Company, which oversees the largest endowment in US higher education, is being advised by Jefferies Financial Group to sell the portfolio to private equity firm Lexington Partners, the report added, citing sources familiar with the matter.
The terms of the deal, which might be in a secondaries transaction, are not final and are subject to change, according to the report.
Harvard Management, Jefferies and Lexington Partners did not immediately respond to a Reuters request for comment.