As long as the majority of Columbia’s and Barnard’s endowments are invested through private funds or investment entities, it is impossible to fully grasp the implications of our endowment investments. While Columbia has the distinction of being the first university in the country to divest from private prisons, this agreement to divest only specifies direct holdings. Columbia’s endowment could therefore still be profiting indirectly from controversial holdings in things like private prisons, by investing through private entities that are not required to disclose their asset holdings. University endowments commonly hold these riskier investments in hopes of producing larger returns, but the practice also dilutes universities’ divestment commitments. Public institutions are held accountable by freedom of information requests and public records of board of trustee meetings, but private ones are exempt from this level of oversight. If Columbia really wanted to assure students that endowment investments reflect University values, it would move more money into direct investments that are visible to students....