Harvard endowment to spin off natural-resources team into separate investment firm

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Harvard University’s endowment is spinning out its natural-resources team into a separate unit that will manage the endowment’s portfolio of orchards, farms and plantations, the Wall Street Journal reported Thursday, citing people familiar with the matter. Harvard Management Co. and insurer AIG are expected to contribute $200 million each as anchor investors in the new firm, which will be called Solum Partners and be based in Boston, the paper said. Solum will be led by Colin Butterflied, a 47-year old Brazilian who previously managed Brazilian farmland for TIAA-CREF and Cosan SA.
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