CMU School of Drama


Saturday, February 21, 2009

Pitt, Carnegie Mellon suing investment manager

Post Gazette: "The University of Pittsburgh and Carnegie Mellon University yesterday filed suit against Westridge Capital Management and its operators, seeking the immediate return of more than $114 million they invested. They also asked a federal judge to appoint a receiver to oversee the investment manager."

1 comment:

MBerger said...

This is just a frightening scenario given the current state of our economy. We are already in a tough position financially as a school and as a country. I would assume that endowment money is invested diversely but to even find that 50 million is in jeopardy is scary. I would hope that this would serve as a reminder to not only the school, but to all of us to be very careful where we invest money.