You have /5 articles left.
Sign up for a free account or log in.
Princeton University is working with the New Jersey Educational Facilities Authority to help colleges and universities invest with more diverse asset managers, Princeton announced Thursday.
After Princeton issued $430 million in bonds through the EFA, the university worked with the agency to invest 50 percent of the bond proceeds with Ramirez Asset Management of New York, a diverse-owned asset management firm.
“This is a major milestone for Princeton University and for the New Jersey EFA,” Tim Graf, associate vice president for treasury services at Princeton, said in a statement. “Princeton is in a unique position as a well-respected leader in higher education and as a global institution. It is our hope that this model will encourage other universities to similarly think creatively, expanding existing relationships with minority, women or veteran owned firms.”
