They’re asking university endowments to shed investments related to Puerto Rico’s debt, and Baupost is one of the largest holders of the U.S. territory’s bonds backed by sales-tax receipts. Activists say the debt burden is hindering an economy struggling to recover from Hurricane Maria in September.
A few protests have already taken place on campuses including Harvard and Yale, and advocates are expected to gather at Rutgers University starting Thursday for a three-day conference scheduled to include a presentation on Wall Street’s growing influence in higher education, highlighting Baupost. At Cornell last week, the student council passed a resolution calling for the school to divest from Puerto Rican debt.
“Cornell is invested in a hedge fund which is holding Puerto Rico’s national interest hostage,” said Zachary Schmetterer, 21, a senior at the university studying policy analysis and management, who introduced the resolution.
Ivy League tax breaks and federal taxpayer subsidies.