District of Columbia Retirement Board has prohibited private prison-related investments.
The $10.1 billion pension fund's board voted at its April 22 meeting to prohibit "any direct investment in the stocks, securities or other obligations of certain companies, which are in the business of building or operating private prisons, correctional/detention facilities," recently released meeting minutes show.
Seven of the 10 trustees voted for the measure, with the remaining voting no against the measure due to the lack of analysis and legal review. The minutes also noted that DCRB does not currently have any direct investments in these types of stocks.
Karen Hsu, interim executive director, could not be immediately reached for further information.
