Billionaire investor Bill Ackman has warned Harvard University of a potential financial reckoning if it proceeds with plans to sell portions of its private equity holdings. Speaking at the Milken Institute Global Conference, Ackman said such sales could force Harvard to accept steep discounts, reducing the long-term value of its $53 billion endowment. The warning comes as Harvard faces pressure on multiple fronts, including a $2.2 billion freeze in federal funding and criticism over governance. The university is reportedly working with Jefferies to explore the sale of up to $1 billion in private equity fund interests. Follow @short.squeez for business & finance news and insights.