5,000 signatures reached
To: Harvard University President Drew Faust
Harvard: Divest from Hate! Dump Baupost Group
We call on you to stand with Puerto Rico and divest all of Harvard University’s funds from Baupost Group, one of the largest holders in the world of Puerto Rico’s unjust debt.
As Puerto Ricans are suffering after Hurricane Maria, Baupost Group’s CEO Seth Klarman expects Puerto Rico to pay back its debt so he can profit. By divesting from Baupost, Harvard can stand with Puerto Rico and show that Seth Klarman’s grip on Puerto Rico while it's recovering from a crisis is unconscionable. Harvard must divest now!
Why is this important?
Four months after Hurricane Maria, Puerto Ricans are still suffering from the impacts of the storm. 40% of the island is still without electricity and supplies are still being brought in while Puerto Ricans rebuild their homes and lives, many from scratch.
There’s no question that Puerto Rico should use all of its resources to recover and rebuild right now, but hedge fund CEO Seth Klarman thinks otherwise. Seth Klarman leads Baupost Group, a hedge fund that holds $911 MILLION of Puerto Rico’s debt, and has said that canceling the debt would be “impractical.” What’s really impractical and unconscionable is holding Puerto Ricans hostage with an unjust debt while the island recovers from the worst disaster in recent memory. This is colonization in the 21st century and we will not stand for Seth Klarman’s profit-driven tactics.
Harvard University, having the largest endowment and most money invested in Baupost Group, must take action to stand with Puerto Ricans and divest its $2 billion from Seth Klarman’s hedge fund. Harvard has a moral obligation to divest any and all funds from Baupost Group -- we call on Harvard University and its endowment to divest from Baupost now!