Harvard Buys into Gavea

Harvard Buys into Gavea

Funds

Harvard Management Company (HMC), which manages the university's $35bn endowment, has purchased a 12.5% stake in Rio de Janeiro-based Gavea Investimentos, marking a significant endorsement for Brazil's highest profile hedge fund. HMC has been an investor in Gavea's private equity funds for some years already and has had a relationship with a number of the firm's partners, including founder Arminio Fraga. The 12.5% stake, whose value is undisclosed, makes HMC a partner in Gavea, but will not give

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