Harvard Looks to Columbia’s Investing Chief for Turnaround Touch
- New CEO Narvekar will be under pressure to revamp endowment
- He had 10.1% annualized gain at Columbia’s $9.6 billion fund
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Nirmal P. “Narv” Narvekar overhauled Columbia University’s endowment in the past 14 years, building a team that delivered top-notch returns and minimized losses during volatile times. Now, he’s tasked with doing the same for Harvard University’s lagging fund.
Narvekar, 54, on Thursday was named chief executive officer of the wealthiest university fund, which has struggled with a decade of lackluster returns. He starts on Dec. 5. Columbia also said it promoted Peter Holland, the chief investment officer of its endowment since 2003, to CEO.