The University of North Carolina at Chapel Hill manages an endowment fund based in Chapel Hill, North Carolina. The endowment provides support to undergraduate scholarships, graduate fellowships, professorships, research funds, and library funds in dozens of schools, departments, and units of the university. The assets are managed by the Board of Trustees.The University of North Carolina at Chapel Hill Endowment's investment portfolio is valued at over $2.35 billion, with investments in private equity, real estate, equity, hedge funds, fixed income, and cash.