Michigan State University (MSU Endowment) manages an endowment fund based in Lansing, Michigan. The endowment fund supports the lives of their students, faculty, and staff by enhancing their education, research, daily work, future inventions and academic excellence. The Common Investment Fund (CIF) is Michigan State's investment portfolio into which endowed funds established at the university are invested. The endowment is managed by the board of trustees.Michigan State University Endowment's portfolio is valued at $3.42 billion, with investments in publicly-traded equity, fixed income, hedge funds, real estate, real assets, and private equity.