Report: UM invests billions in firms run by alumni, advisers
The University of Michigan is not just a leader in educating its students. It’s also a leader in raising money.
The school has raised billions of dollars, to the point where its endowment stands at about $11 billion right now.
Matthew Dolan and David Jesse, reporters for the Detroit Free Press, dove into how the public university invests its billions. They found much of that money is invested in firms run by alumni and advisers.
Some critics see a conflict.
Dolan joined Stateside today to explain. Listen above, or read the report here.
We spoke to Rick Fitzgerald, assistant vice president for public affairs at the University of Michigan, to hear the university's response to this story. Listen below.
*This post was last updated on Feb. 2 at 4:50 p.m.