According to a news report by The Harvard Crimson, Harvard University has purchased a 4,000-acre dairy farm in New Zealand. The 6,000-cow operation will diversity the University’s endowment portfolio.

The University purchased the operation for approximately $20.7 million U.S. during a liquidation sale.

Harvard’s new purchase isn’t the only investment they have made in New Zealand. The University also owns sizeable tracts of forest, reports The Harvard Crimson.

For more read: Harvard Diversifies into Dairy and US purchase of Otago dairy farm approved

Source: The Harvard Crimson