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University of Michigan investment practices raise concerns

University of Michigan investment practices raise concerns
Posted at 2:03 PM, Feb 01, 2018

A newspaper investigation has found that the University of Michigan has invested $4 billion into companies who have donated hundreds of millions of dollars to the university.

The Detroit Free Press investigation found that the university invested in more than 30 companies co-run or owned by university donors, including members of a group that advises the university on its investments.

Some worry that investing in the university's top donors creates a conflict.

University officials say there's a system to prevent conflicts of interest. Members of the Investment Advisory Committee who are eligible to receive an investment from the university must disclose the financial interest or relationship. A university spokesman says there's no written record of those disclosures, which are typically done verbally.

The university's endowment currently has about $11 billion.

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Information from: Detroit Free Press, http://www.freep.com