❝ Barnard College is replacing its money manager, Investure LLC, with another firm that’s able to invest its $286 million endowment in more socially responsible companies.
Strategic Investment Group, based in Arlington, Virginia, will become the fund’s manager at the end of September, Barnard said Wednesday in a statement. Investure, run by Alice Handy in Charlottesville, Virginia, had overseen the school’s investment office since 2006. Barnard is at least the third client to depart Investure in the past three years.
❝ In March, Barnard’s board of trustees voted to divest from energy companies that deny climate change, saying the women’s college, which is affiliated with Columbia University in New York, will “distinguish between companies based on their behavior and willingness to transition to a cleaner economy.”…
❝ In 2014, Investure lost Rockefeller Brothers Fund, which decided to divest from fossil fuel companies. Rockefeller Brothers, which has an $816 million fund, hired a unit of Perella Weinberg that customizes portfolios.
Nice to see University admins with sufficient backbone to stand up for principle and science. Anyone think Congress might follow their lead?
❝ On Wednesday, President Trump announced his intention to appoint longtime Republican operative Fred Malek as chair of the Woodrow Wilson International Center for Scholars, a highly recognized think tank that is part of the Smithsonian Institution.
While the position may be a relatively obscure one, Trump’s selection of Malek — coming as it does on the heels of the president defending neo-Nazis who were involved in a white supremacist rally in Charlottesville, Virginia — is significant, as Malek was involved in one of the most notorious anti-Semitic episodes in modern American history.
❝ Malek, now 80, served as a special assistant to President Richard Nixon. In that role, in 1971, he put together a list of “important Jewish officials” who were working in the Bureau of Labor Statistics (BLS). Four of those officials were later demoted.
❝ As The Atlantic has detailed, Nixon had come to believe that Democratic Jews in the BLS were conspiring against him after the bureau released a report playing down a drop in the unemployment rate, and ordered Malek to work on purging them from leadership positions.
“We’ve got to get a man in charge who is not Jewish to control the Jewish… Do you understand?” Nixon told chief of staff H.R. Halderman.
In classic fashion, Malek said he “was only following orders”. Should fit in perfectly with the fake president.