Feb. 23, 2012
In a Princeton Resource Committee meeting, President of Princeton University Investment Company, Andrew Golden, stated that the University would no longer reinvest in private-equity hotelier, HEI Hospitality, citing business considerations. A video of portions of that meeting, taken by students, can be seen here. Golden’s statement follows on the heels of four other Ivy League universities making public statements regarding their investments in HEI Hospitality.
Last fall, Yale University, an anchor investor in all three HEI investment funds, made a decision not to reinvest in HEI. Earlier last year, Brown University announced that it will not reinvest in HEI until the University is confident that the hotelier is respecting the rights of its workers. In addition, the University of Pennsylvania stated publicly that it had no current plans to make future investments in HEI-sponsored funds. Over the past few months, Vanderbilt, Swarthmore and Cornell universities have also made similar statements. Click here to read the entire press release.