The University of Cambridge’s wealthiest constituent college, Trinity College Cambridge, has decided to divest from all arms companies, Middle East Eye can reveal.
MEE has learnt from three well-informed sources close to Trinity’s student union that the college council, responsible for major financial and other decisions, voted to remove Trinity’s investments from arms companies in early March.
According to the sources, the college decided not to announce that it would divest from arms companies after an activist defaced a 1914 portrait of Lord Arthur Balfour - who authored the infamous Balfour Declaration - inside the college on 8 March.
Leaving aside the fact that this is about the UK, I’ll take a crack at this. Many large colleges in the US have what’s called an endowment, which is essentially a massive pot of money that they can’t spend, but can invest. I think they typically can spend the interest that the endowment accrues, so they invest it so it grows. Many of the Ivy League schools have endowments worth multiple billions of dollars. It’s a very strange system.
I could be wrong on some of the finer points, so folks can feel free to correct me.
The endowment management side does actually run like an investment bank, private equity, and asset management firm and is staffed by people who worked on those.