A newspaper investigation has found that the University of Michigan has invested $4 billion into companies who have donated hundreds of millions of dollars to the university.
The Detroit Free Press investigation found that the university invested in more than 30 companies co-run or owned by university donors, including members of a group that advises the university on its investments.
Some worry that investing in the university's top donors creates a conflict.
University officials say there's a system to prevent conflicts of interest.
Members of the Investment Advisory Committee who are eligible to receive an investment from the university must disclose the financial interest or relationship.
A university spokesman says there's no written record of those disclosures, which are typically done verbally.
The university's endowment currently has about $11 billion.