Harvard University’s endowment has posted its second-highest annual return on record, buoyed by a rally in US stocks and venture capital investments in high-flying private technology companies such as Space X. The Ivy League university said on Thursday that its endowment returned 27.1 per cent in the 12 months to June 30, helping boost its total assets by almost a fifth to $68bn. NP “Narv” Narvekar, chief executive of Harvard Management Company, attributed the “exceptional” performance primarily to venture capital, public equities and hedge funds.
Private equity, including venture capital, now accounts for 46 per cent of the endowment’s portfolio, up from 20 per cent a decade ago. HMC’s performance reflects a broader rebound among leading US university endowments after several years of disappointing returns relative to public equity markets. HMC’s private equity holdings, particularly venture capital, weighed on overall returns in recent years.
That trend reversed this year as soaring valuations of AI start-ups boosted the value of its investments in venture capital funds. “Private investments were a meaningful contributor to performance in FY26,” said Narvekar.
Source: Financial Times Companies · Summarized by HeadlinesBriefing