Carnegie Mellon University (CMU) and the University of Pittsburgh have recovered around $100 million of their investments with Westridge Capital Management, Pittsburgh Post Gazette reports. CMU, whose investment was valued at $49 million, received $32.7 million along with an initial payment of $8 million in January. Pittsburgh’s investment, which was valued at $65 million, got back $44.4 million along with a payment of $9.3 million in 2009, adds Pittsburgh Tribune. Pittsburgh and CMU were among about two dozen universities, state and municipal pension funds and college endowments that invested in California-based Westridge, which has been accused of running a Ponzi-like scheme.
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