New Delhi, May 17 -- Indian-American financier Nirmal Narvekar, who spent a decade reshaping Harvard University's $56.9 billion endowment, is set to retire in 2027.

According to a report in Bloomberg, Narvekar has begun discussions about departing from the investment fund.

Narvekar, or 'Narv' as he is popularly known in Wall Street and Ivy League circles, initiated talks this year with the board of Harvard Management Co., which runs the endowment, about who would succeed him. However, no date has been determined, the news agency reported citing people familiar with the matter who asked not to be identified when discussing private conversations. The talks were part of succession planning.

Narvekar's departure comes at a time when Harvar...