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Sponsor and UW clash over bill to shift university endowment investing to state board
Summary
Representative Stokesberry introduced HB 2,565 to require the University of Washington to place certain gifts and funds with the Washington State Investment Board for investment; UW witnesses opposed, citing donor restrictions, portfolio differences and fee-accounting details.
Representative Stokesberry introduced House Bill 2,565 on the House Appropriations Committee floor, saying the measure would require the University of Washington to invest gifts, grants, conveyances and other amounts through the Washington State Investment Board (WSIB) rather than manage them internally. Stokesberry argued WSIB can achieve higher returns and lower internal expense fees than the university’s investment organization, and framed the change as a way to save money and boost resources for UW’s core mission.
David Pringle, committee staff, told members WSIB manages roughly $230,000,000,000 and highlighted the board’s constitutional…
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