Amidst accusations in a recently published report that Harvard is investing in a “land-grabbing” hedge fund, experts in the field are questioning the document’s accuracy.
According to the Oakland Institute, the Harvard Management Company, which oversees Harvard’s nearly $30 billion endowment, has invested $500 million in London-based Emergent Asset Management, a hedge fund that specializes in the agricultural industry.
The report alleges that Emergent and other funds like it have forced villagers off their land, leaving farmers with little land to grow crops. Additionally, many on-site investors have been granted eased restrictions on natural resource consumption, which can lead to price volatility and supply shortages in commodity markets and strains on the local natural environment.
According to Oakland Institute Executive Director Anuradha Mittal, individuals close to Emergent described Harvard as the “cornerstone” investor. The report also names Vanderbilt as another prominent university involved in these alleged land grabs.
Read the full story at the Harvard Crimson.
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