University Policy 4.11
Forming a University-Related Subsidiary or Affiliate or Acquiring a Controlling Interest in a Separate Entity

Cornell University will form a university-related subsidiary or affiliate, or acquire a controlling interest in a separate entity, only if there is compelling legal and/or business justification.

Note: On occasion, the Office of University Investments or the Office of Trusts, Estates, and Gift Planning may acquire controlling interests through the investment of endowment assets or the acceptance of gifts. Such decisions are subject to the oversight of the Investment Committee of the Board of Trustees and University Policy 3.1, Accepting University Gifts, respectively, and are not governed by this policy. The risks associated with acquiring a controlling interest will be taken into account in making these acquisition decisions.