Ivy League purchase

A 4ha dairy farm south of Auckland has been purchased by Harvard University for US$2.7 million. The Cambridge institution best known for churning out top college graduates bought the farm with 6 cows as a result of a liquidation-sale transaction finalised a few weeks ago. Harvard Management Co., which oversees the Ivy League school’s multibillion-dollar endowment fund, has made previous dairy-farm investments in New Zealand, taking advantage of depressed sales prices brought on by the recent global recession.