In his annual letter to members of the Harvard community, Harvard Management Company CEO N.P. Narv Narvekar highlighted rising risks within private assets that dampened the portfolios' losses, which stood at -1.8% as of June 30.
The $50.9 billion endowment's highest risk asset classes -- venture capital, buyout and real estate -- were the strongest performers. The idea that more private portfolios equaled better returns over the fiscal year does not sit well with Narvekar.
“We expect that the end of the current calendar year might present meaningful adjustments to these valuations, as . . .
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