Monday, April 15, 2013

Harvard's private equity chief bails

Peter Dolan, the director of private equity and venture capital for the Harvard Management Company, manager of the world's biggest endowment, stepped down on April 10. People close to the matter told Reuters that the departure comes at a critical time for the endowment's $4 billion private equity portfolio, which is set to expand as the university shifts to a more aggressive approach to the asset class.

Dolan had worked for Harvard Management Company, which oversees the university's $30.7 billion endowment, for 18 years, joining the unit in 1995. On an interim basis, Dolan will be replaced by John Shue, according to a person familiar with Dolan's decision.

Considered by many to be the dean of endowment private equity chiefs, Dolan reported directly to Jane Mendillo, Harvard Management Company's chief executive….

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