Harvard promotes MacDonald to top PE role

The $33bn endowment has named Lane MacDonald, former managing director of Harvard's public markets platform, as managing director for private equity.

Harvard Management Company has named Lane MacDonald as its managing director for private equity, effective in December, according to a statement.

In his new role, MacDonald will help in assessing and reshaping the endowment's private equity portfolio and will report to Andrew Wiltshire, Harvard's head of alternative assets. 

MacDonald joined Harvard Management Company in 2008 as a senior vice president of private equity and was promoted in 2012 to managing director of its public markets platform, overseeing relationships with external managers. Prior to joining Harvard, MacDonald was a general partner at Boston-based private equity firm Alta Communications, where he worked for eight years, and an investment professional at JW Childs and BancBoston Capital.

“We are continually honing our strategy in this area to ensure we are working with the best managers with the greatest potential, and I know that Lane will add tremendous value as the new managing director of this important asset class,” Wiltshire said in the statement.

MacDonald's appointment comes roughly six months after Harvard lost Peter Dolan, one of the most influential limited partners in the industry, who left his long-time perch at the endowment in April after nearly two decades.

Harvard's private equity portfolio generated an 11 percent return in fiscal 2013, slightly north of its 10.6 percent benchmark. The endowment's assets stood at $32.7 billion as of September.