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Harvard loses private equity head

13 Feb 2014

Lane MacDonald HarvardHarvard Management Co’s private equity head Lane MacDonald has left the $33bn endowment management company just four months after getting the job.

Lane MacDonald will now serve as president of Crosby Company of New Hampshire, which is the family office for the Johnson family, according to Fortune.

The report said that “most folks will view the Crosby opportunity as one that he just couldn’t pass up,” noting that MacDonald was running a small piece of Harvard’s endowment, while he will now be leading investments for a family that is worth more than $20bn.

John Shue will likely serve as HMC’s interim private equity director, according to the report.

MacDonald, who played for the US team in the 1988 Winter Olympics, returned to his alma mater in 2008 as senior vice president for private equity.

He was promoted to managing director for it public markets platform in 2012 and then to managing director for its private equity investments in October.

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