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The University Insider is The Daily’s first faculty and staff-oriented newsletter. This weekly newsletter will give U-M faculty and staff the ability to see the most important issues on campus and in Ann Arbor — particularly those related to administrative decisions — from the perspective of an independent news organization. It will also provide a better understanding of student perspectives.

The University of Michigan announced Tuesday it will make no further Russian investments and will pull its current investments “as quickly as practical.” The investments are part of the University’s endowment, which was valued at approximately $17 billion at the end of fiscal 2020. 

Pulling the investments comes as a result of the “increasing financial risks associated with such investments” according to a University press release.

This change in funding follows the escalation of Russia’s invasion of Ukraine, which began on Feb. 24. Since the start of the invasion, Russian forces have entered the country and bombed several major cities, including the capital, Kyiv. On March 7, Interim University President Mary Sue Coleman sent an email to the University community condemning Russia’s actions and pledging to advocate for increased visa flexibility for Ukrainian students.  

“I condemn this invasion and the ruthless attack on freedom,” Coleman wrote. “The grief, anger and hurt are devastating, and I feel such sorrow for the many members of our community whose loved ones and communities are in harm’s way.” 

In an email to The Michigan Daily, University spokesman Rick Fitzgerald wrote that University currently has $40 million invested with investment manager Russia Partners. According to Fitzgerald, the investments were made in 2009 and 2012. 

“These investments represent less than 0.5 percent of the total endowment,” Fitzgerald wrote. “The investments are primarily in companies focused on consumer, education, healthcare and financial technology.”

Daily Staff Reporter Matthew Shanbom can be reached at shanbom@umich.edu