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The UC Board of Regents committees on finances, investments and basic needs met virtually Tuesday over Zoom to discuss the UC system’s financial needs and burdens on students.
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UC Chief Investment Officer Jagdeep Singh Bachher recently announced that the university will attempt to decrease its costs by further reducing its number of hedge fund managers, who manage about $2 billion of the university’s endowment of $8.8 billion in assets.
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The University of California’s largest employees’ union released a report March 1 detailing what it calls an underperformance of the UC system’s “experiment” with hedge fund investments since 2003.
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On Monday, a universitywide group of black student organizations denounced the University of California’s investment in private corrections companies, calling for divestment and investment strategy reforms.
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The Berkeley Faculty Association urged the UC Regents to divest from fossil fuels Sunday just five days before the UC Task Force on Sustainable Investing presents its recommendations to the Regents.
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