• contact david

‘Mounting concerns’ from lawmakers over University of Virginia’s $2.2 billion fund

posted August 9th, 2016

State lawmakers on Monday continued to press University of Virginia officials for answers about a $2.2 billion investment fund, with some legislators expressing increasing frustration at exchanges they characterized as public relations rather than serving the public interest.

The fund, which is separate from the university’s endowment and is expected to generate about $100 million a year, would be used for strategic investments approved by the full board.

Virginia businesswoman Helen Dragas, who stepped down from the board earlier this summer, revealed the fund — which she called a “slush fund” — in a July column for The Washington Post. …

Read More