Harvard's MacDonald leaves for family office

Lane MacDonald's departure comes just four months after he was named Harvard's managing director for private equity.

Lane MacDonald is reportedly stepping down from his role as head of private equity at Harvard Management Company to become president of Crosby Advisors, the family office of Fidelity Investments chairman Edward Johnson.

Harvard Management Company was not available for comment at press time.

The move comes just four months after Harvard named MacDonald as its managing director for private equity. MacDonald had been tasked with helping to assess and reshape the endowment's private equity portfolio and reported to Andrew Wiltshire, Harvard's head of alternative assets. MacDonald's appointment came 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 last April after nearly two decades.

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.

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 30, 2013.