The University will stop making additional investments in HEI Hospitality, a Connecticut-based hotel-investment firm. The decision follows three years of campus debate about whether the company has engaged in unfair labor practices, but Andrew Golden, president of the Princeton University Investment Co. (Princo), told The Daily Princetonian that the decision not to reinvest was based only on business reasons. “It would be absolutely wrong to infer that Princo had concluded that HEI was out of compliance with regulations or industry standards,” he said.
The University is not withdrawing its previous investments in HEI, spokesman Martin Mbugua said. Brown, Yale, and the University of Pennsylvania also have halted further investments in the company.