An investigative report by Middle East Eye has uncovered that the University of Cambridge’s endowment fund holds significant investments exceeding £140 million in companies allegedly involved in Israeli human rights violations. The investment, made through the iShares ESG Select Screened S&P 500 fund managed by BlackRock, includes substantial stakes in Palantir Technologies, Caterpillar Inc., and GE Aerospace—all firms connected to controversial military operations in Palestine.
The University of Cambridge Investment Management Limited (UCIM), which oversees the £4.2 billion endowment, has consistently refused to disclose its complete investment portfolio, citing confidentiality agreements. However, recent SEC filings revealed that UCIM allocated these funds in late 2025, shortly after completing an internal review of defense industry investments prompted by student protests.
Notable holdings include approximately £800,000 in Palantir, which maintains strategic partnerships with Israel’s defense ministry and has been accused by UN officials of facilitating unlawful force. The endowment also holds £900,000 in GE Aerospace, whose engines power Israeli military jets, and £1 million in Caterpillar—a company dropped by Norway’s sovereign wealth fund due to documented use of its bulldozers in unlawful property destruction.
The investment controversy emerges despite UCIM’s claims to maintaining minimal defense exposure (approximately 1.7% of total assets) and follows months of pro-Palestine encampments by students demanding divestment. University leadership has repeatedly postponed votes on arms manufacturer divestment, citing structural challenges within its ‘fund of funds’ model that relies on third-party managers.
BlackRock, the asset manager overseeing the ESG fund, faces its own criticisms from UN reports alleging complicity in Israeli occupation practices. Both UCIM and BlackRock declined to comment on the investment revelations.