In Washington state, public funds are invested in the predatory, multi-billion dollar bail industry-- including the pensions of teachers, state employees, judges, and others. The money bail system forces Black and brown people to make impossible choices between their freedom and losing their jobs, housing, and even losing custody of their children in some cases. Black people are often assigned higher bail amounts than others, which only further compounds the disparity our people face at every stage in the criminal justice system. Many plead guilty just to get back to their lives but now with a criminal record impeding their ability to access critical services and programs. Endeavour has invested the University of Washington endowment and pension funds of Washington state employees in the criminalization and exploitation of Black, brown, and cash poor people in other states. 

The UW Board of Regents and the Washington State Investment Board (WSIB) need to commit to divesting from Endeavour Capital, a relic from the tough-on-crime era. Endeavour is not only the majority investor in Aladdin Bail Bonds, the largest bail bond agency in America, but the firm is also one of the primary funders behind the ballot initiative attempting to reinstate cash bail in California after the legislature abolished it in 2018.

The WSIB, which manages 17 total retirement funds and 17 other public funds, has committed to socially responsible investing when it comes to the environment and gun violence, but turns a blind eye to the impact their investments have on the families and communities being exploited by a system that forces them to pay too heavy a price for freedom. We can ensure that public funds are invested in the public good and that criminal justice becomes a priority for the board. The board is a public entity with several members appointed by elected officials. If we stand together and demand a voice in how our funds are invested, we can encourage the board to infuse innovative, equity-driven initiatives with thousands of dollars instead of the predatory bail industry. 

Here is the Petition:

To whom it may concern:

We urge you to disentangle public pension funds completely from Endeavour Capital, the Oregon-based private equity firm that has invested over $100,000 of Washington state employee pension funds in the bail industry and which decimates families who are forced to make impossible decisions in order to maintain the freedom of their loved ones. The very real impact of WSIB's relationship with Endeavour allows for a paradox like this: while you are stewarding a scholarship fund for the students of Washington, you are criminalizing the Black, brown, and impoverished students of several other states. Endeavour's commitment to money bail demonstrates how invested they are in an antiquated technology from the tough-on-crime era.

Public funds should be invested with integrity and for the public good. At the very least, we hope the Board can commit to investing no future funds in private equity firms committed to keeping Black, brown, and poor people incarcerated before conviction.