Nirmal Narvekar to retire in 2027 after $57B Harvard turnaround
Nirmal Narvekar, the Indian American finance pro who helped turn around Harvard's massive $57 billion endowment, is set to retire in 2027.
He took over back in 2016 when things were rocky, and since then, Harvard's annualized investment returns over the past three years have outpaced big names like Yale and Princeton.
Narvekar outsourced management and pursued alternatives
Narvekar shook up Harvard's investment approach by moving most of the fund management to outside experts and leaning into alternative assets: think private equity and hedge funds backing companies like SpaceX and Stripe.
His strategy sparked some debate but ultimately turned things around for the university.
Beyond Harvard, his work highlighted how US college funds differ from those in India, showing just how important financial know-how is for big institutions.