Baupost's Puerto Rico Debt Holdings Targeted in Campus Protests
- Harvard, Yale, Cornell endowments are investors in fund
- Divesting wouldn’t help Puerto Rico, Cornell provost says
Yale University
Photographer: Craig Warga/BloombergThis article is for subscribers only.
Students at Harvard, Yale, Cornell and other wealthy colleges have a new target for their divestment protests: hedge fund Baupost Group.
They’re asking university endowments to shed investments related to Puerto Rico’s debt, and Baupost is one of the largest holders of the U.S. territory’s bonds backed by sales-tax receipts. Activists say the debt burden is hindering an economy struggling to recover from Hurricane Maria in September.