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Harvard University’s endowment manager has hired a new head of private equity from Teacher Retirement System of Texas.
Richard Hall will start at Harvard Management Co. in April, the university said Monday. He succeeds Lane MacDonald , who recently left to oversee the family fortune of the Johnsons, who run Fidelity Investments.
Hall, 46, joins the nation’s largest university endowment fund after managing $14 billion in private equity for the Texas pension fund, where he worked for six years.
“Hall brings significant and deep expertise across private equity investments, other private assets and global M&A, and we are delighted to welcome him to our team,” Harvard Managment chief executive Jane Mendillo said in a statement. “Private equity has been and continues to be an important driver of returns in our portfolio.’’