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."
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1 comment:
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.
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