Harvard Land Ownership in Brazil Scrutinized in Title Dispute [Bloomberg Business News]
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Source: Bloomberg Business News
Another Harvard University farmland investment in Brazil may go awry. The prosecutor’s office in the state of Bahia said it’s reviewing allegations that a company linked to Harvard’s endowment isn’t the rightful owner of land in the region, and it’s determining whether to sue to reclaim the titles. The land in Western Bahia was purchased by Caracol Agropecuaria, a company that is controlled by Harvard’s $37.1 billion endowment through an entity called Guara LLC, according to the university’s tax filings. Property Fights The dispute, which dates back years, concerns property titles for about two-thirds of a sprawling 140,000-hectare (540 square miles) farm, an area about the size of Phoenix. Such fights have become more common in Brazil as industrial agriculture spreads to poorer regions of the country and illustrate one of the risks for institutions investing in the sector. “Caracol has the property title, but it couldn’t prove how the land, at the dimensions
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