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Top U.S. Universities Accelerate Financial Moves as Federal Funding Reviews Escalate

Harvard, Yale, Princeton, and Northwestern implement major bond issuances and private equity sales to counter over $10 billion in threatened federal research funding.

A view of the Business School campus of Harvard University in Cambridge, Massachusetts, U.S., April 15, 2025.   REUTERS/Faith Ninivaggi/File Photo
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Overview

  • The Trump administration has placed more than $10 billion in university research funding under review, citing insufficient action against antisemitism on campuses.
  • Harvard University is in advanced talks to sell $1 billion in private equity fund interests to Lexington Partners, advised by Jefferies Financial Group.
  • Harvard has also arranged a $750 million bond issuance, while Northwestern raised $500 million and Princeton is considering $320 million in taxable bonds.
  • Yale University is reportedly exploring the sale of up to $6 billion in private equity holdings, advised by Evercore, marking a potential shift from its traditional endowment strategy.
  • Federal funding conditions have included controversial measures like banning protest masks, sparking tensions between university leadership, donors, and the administration.