CHICAGO, July 02, 2026 (GLOBE NEWSWIRE) -- Christian Brothers Investment Services, Inc. (CBIS), a Catholic investment management firm and registered investment adviser serving Catholic investors around the world, announced today that it has divested from and now excludes companies whose primary business involves the ownership, operation, or management of private prisons or detention facilities.
This exclusion includes divestment from CoreCivic and GEO Group, which were held in the CRI Small-Cap Fund and CRI Magnus Funds. The decision follows six years of shareholder engagement aimed at advancing human rights and restorative justice for incarcerated and detained individuals.
Since 2019, CBIS has engaged both companies through its Catholic Responsible Investments (CRI) process, seeking measurable improvements in detainee safety, health care, and living conditions. This engagement was part of our broader effort to promote an integral ecology rooted in human dignity, justice, and care for our common home; and it produced documented results. CoreCivic completed human rights assessments at detention facilities. GEO Group adopted a formal global human rights policy and implemented employee human rights training, both long-standing priorities of CBIS’ engagement.
However, CBIS believes the private prison business model has changed. Immigration detention has become an increasingly important source of growth and revenue for private prison operators. At the same time, changes at the federal level have significantly weakened oversight mechanisms, including offices responsible for reviewing detention complaints, civil rights concerns, medical care failures, and deaths in custody.1
“The change in business model, coupled with weakened oversight, created an accountability gap we can no longer responsibly overlook,” said Jeffrey A. McCroy, President and Chief Executive Officer of CBIS. “CBIS has concluded that continued investment in the private prison industry is no longer consistent with our Catholic Responsible Investments approach.”
Although CBIS is excluding the private prison industry, McCroy said engagement and exclusion are both tools for pursuing meaningful change.
“CBIS will continue to engage with companies where dialogue and action can create measurable change. However, when circumstances warrant, we escalate to exclusion and divestment,” said McCroy. “For those who continue to engage with these companies, we support their efforts to create meaningful change.”
Consistent with USCCB, the Catholic investing framework that guides the CRI process, CBIS remains firmly committed to the issues of human dignity, accountability in detention, and restorative justice.
About CBIS
Christian Brothers Investment Services, Inc. is a Catholic investment management firm and registered investment adviser. A trusted partner to Catholic investors around the world, the firm relies on its Catholic Responsible Investments strategy to provide Catholic investors with sound financial returns while remaining faithful to the moral and social teachings of the Church. Founded in 1981 by the De La Salle Christian Brothers, CBIS engages third-party institutional investment firms to actively sub-advise its portfolios. As of March 31, 2026, CBIS had $12.4 billion in assets under management. Headquartered in Chicago, CBIS also has an office in Rome. For more information, visit www.cbisonline.com or call (1) 877-550-2247.
1. American Immigration Council, Immigration Detention Expansion in Trump’s Second Term, January
Important Information
Consider the funds’ investment objective, risk, and charges and expenses. This and other information can be found in the funds’ prospectus, and if available, the summary prospectus, which may be obtained by visiting http://www.cbisonline.com or by calling 1-866-348-6466. Please read the prospectus, or summary prospectus, carefully before investing.
Mutual fund investing involves risk, including possible loss of principal. There can be no assurance that the Fund will achieve its stated objectives. In addition to the normal risks associated with investing, investments in smaller companies typically exhibit higher volatility.
Current and future holdings are subject to change.
The securities identified and described do not represent all the securities purchased, sold, or recommended for the CRI Funds. This should not be regarded as investment advice or recommendation. The reader should not assume that an investment in the securities identified was or will be profitable. Visit our website for a complete list of securities offered during the period.
Under CBIS’ policy, quarterly holdings are shared publicly at www.cbisonline.com/us/catholic-responsible-investing/investments/. CBIS does not share complete holdings more often than on a quarterly basis.
Catholic Responsible Investment (CRI) is an investment strategy designed specifically to help investors seek sound financial returns while remaining faithful to the teaching of the Roman Catholic Church. The Fund considers the Adviser’s CRI criteria in its investment process and may choose not to purchase, or may sell, including at inopportune times which would result in losses to the Fund, otherwise profitable investment in companies which have been identified as being in conflict with the Adviser’s CRI criteria. Funds may underperform other similar funds that do not consider CRI guidelines when making decision.
The funds are distributed by SEI Investment Distribution Co. (SIDCO). SIDCO is not affiliated with CBIS.
Contact: Kris Pfeiffer kpfeiffer@wearecsg.com
