Harvard University is advancing plans to sell approximately $1bn worth of private equity fund stakes through a secondary market transaction, continuing its strategy of actively managing its $53bn endowment portfolio.

According to sources cited by Reuters and Bloomberg, Harvard Management Company (HMC) has engaged Jefferies Financial Group as adviser on the deal, with Lexington Partners emerging as a potential buyer. The transaction, initiated in 2023, is expected to be structured as a secondaries sale, although terms remain under negotiation.

Private equity firm Warburg Pincus is backing the launch of Unity Advisory, a UK-based boutique accounting and consulting firm founded by former EY and PwC senior leaders, in a move poised to shake up the professional services sector.

The firm, chaired by former EY UK boss Steve Varley and led by CEO Marissa Thomas—previously COO at PwC UK—is set to launch by June with up to $300m in backing from Warburg Pincus. Unity will offer tax, accounting, technology consulting, and M&A advisory services, but will deliberately exclude audit to avoid the regulatory complexities and conflicts of interest that often entangle Big Four firms.

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Nomura has announced a $1.8bn all-cash acquisition of Macquarie’s US and European public asset management units, marking its largest international deal since the 2008 purchase of Lehman Brothers’ Asian and European operations.

The acquisition will add approximately $180bn in assets under management and will grow Nomura’s investment management platform to $770bn. The deal is expected to close by the end of 2025, subject to regulatory approvals.

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