A week in UC student news

UC investments buys Half Moon Bay’s Ritz-Carlton for $193 million The University of California’s investment arm purchased the Ritz-Carlton hotel in Half Moon Bay for about $193 million, with no disclosed plans for use or management. The UC investment arm maintains an investment portfolio of $236 billion, much of which is used to fund pension accounts for more than 80,000 system retirees. The Office of the Chief Investment Officer manages the UC investment portfolio, to which the Chief Investment Officer, Jagdeep Singh Bachher, has independent investment authority. Bachher does not need UC Board of Regents approval for real estate deals. The luxury oceanfront hotel has 261 rooms across the nearly 35,000 square feet property. According to county records, as reported by the Coastside News, the hotel buyer is listed as a limited partnership called Regency Half Moon Bay with the address of the UC’s headquarters in Oakland.

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