June 4 (Reuters) - Yale University is finalizing the

sale of up to $2.5 billion of its private equity and venture

capital assets, Bloomberg News reported on Wednesday.

The Ivy League school's endowment is in advanced talks on

the portfolio sale, code-named "Project Gatsby," with an overall

discount expected to be less than 10%, Bloomberg News reported

citing people familiar with the matter.

In April, Reuters reported that Yale was exploring a sale of

private equity fund interests and was being advised by

investment banking firm Evercore ( EVR ).

The sale discussions includes a so-called mosaic deal that

allows buyers to cherry-pick specific investment funds they

would like to acquire, and multiple buyers, including Lexington

Partners and HarbourVest Partners, have assessed the portfolio,

Bloomberg said.

Yale University and Lexington did not immediately respond to

a request for comment. HarbourVest declined to comment.