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Harvard endowment loses its private equity boss (again)

Harvard University
Photo: Joe Daniel Price / Getty Images

Rich Hall has stepped down as head of private equity investing for Harvard University's $36 billion endowment, according to a memo obtained by Axios. His next job will be as deputy chief investment officer for the University of Texas Management Co. (UTIMCO).

  • It's a return to Texas for Hall, who before joining Harvard in 2014 had led private equity for the state's teacher retirement system.

Why it matters: Harvard is one of the oldest institutional investors in venture capital and private equity, but has now gone through three bosses in less than five years.