Harvard appoints new private equity head

MacDonald, who will step into the role from December, will take the lead in assessing and reshaping HMC's private equity portfolio. He will report to Andrew Wiltshire, head of alternative assets at HMC.

MacDonald joined HMC in August 2008 as senior vice president for private equity before being promoted to his current position as managing director of HMC's public markets platform, where he has overseen investments with external managers.

Before joining HMC, MacDonald spent eight years at Alta Communications as a general partner, where he was a member of Alta's senior leadership team responsible for managing two of the firm's major funds. Prior to joining Alta, he helped manage large investment funds at J.W. Childs Associates and BancBoston Capital.

"With the right leadership, this is an asset class that presents unique opportunities for attractive returns," said Jane Mendillo, president and CEO of HMC. "I am confident that the experience Lane brings to his new position will enable HMC to focus its resources to deliver sustained excellence and market outperformance."

Private equity accounts for 16% of HMC's total portfolio up from 11% in 2008. According to its annual report, HMC's private equity investments returned 11% for the 2013 fiscal year. The overall endowment grew by 11.3% to $32.7 billion.

HMC has made commitments to a handful of Asian funds; among the most recent is India-focused ChrysCapital Fund VI, which reached a final close of $510 million last year.

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