University of California official says system has $32 billion in holdings targeted by protesters
SACRAMENTO, Calif. (AP) — Investments in weapons manufacturers and a wide array of other companies by the University of California targeted by students protesting the Israel-Hamas war represent $32 billion - or nearly one-fifth - of the system’s overall assets, the system’s chief investment officer says.
UC Chief Investment Officer Jagdeep Singh Bachher unveiled the estimate Tuesday at the first public Board of Regents meeting since nationwide pro-Palestinian student protests began in April. The calculation was in response to a letter he received last month from the UC Divest Coalition, which is scrutinizing the system’s overall $175 billion in assets.
The group asked for the system to halt its investments in weapons manufacturers, the investment firms Blackstone and BlackRock, and two dozen companies across the entertainment, technology and beverage industries.