Court Decision: UC Must Disclose Detailed Venture Capital Fund Returns
Inside Higher Ed reports today that UC has been ordered to make public information on rates of return received from venture capital funds in which it invests. UC has had this battle before – and lost it back in 2003. My guess in reading the Inside Higher Edreport and the Reuters report on which it is based is that the University asked the funds not to give it more than summary information on a collective return on various funds so it could say it didn’t have the detailed info. Or it may be that the funds told UC that it couldn’t invest with them absent an agreement not to receive the detailed info. The court, however, seems to be saying that if UC could have the info as an investor in the funds, it must ask for it and disclose it. So there may yet be an argument over what info UC can receive.