Harvard's portfolio is still vast, including farms in Australia, South Africa and Brazil, as well as vineyards in California and timberland in Eastern Europe and throughout Central and South America, according to tax documents and other filings.
The Harvard Management Company, which handles Harvard University's $37 billion endowment, has recently been linked to an agribusiness that may have been involved in deforestation and fraudulent land titles.
The prosecutor’s office in the state of Bahia said it’s reviewing allegations that a company linked to Harvard’s endowment isn’t the rightful owner of land in the region, and it’s determining whether to sue to reclaim the titles.
Harvard bet the farm in Brazil and lost. The university, which invested at least $150 million in a mega farm project in country's northeast, is now exiting, according to people familiar with the matter.
The portfolio, once considered a crown jewel in the endowment, is vast with assets including timberland plantations in Central and South America, a dairy farm in New Zealand, and vineyards in California.