Can Harvard Endowment Get Its Groove Back?

Harvard's endowment, still the largest globally, has not fully recovered from the financial crisis. The new endowment chief, Stephen Blythe, faces challenges in managing the $36.4 billion fund, which is still below pre-crisis levels. Unlike other universities, Harvard's investments in emerging markets and private equity have underperformed. The university has reduced its exposure to natural resources and commodities, while increasing its focus on private equity. Despite seeking a different kind of investor, Harvard appointed Blythe, an insider and statistics professor, to lead the endowment.

What is the significance of private equity in Harvard's investment strategy according to the text?

What qualities was Harvard looking for in the new head of the Harvard Management Company?