The University of Wisconsin System manages an endowment fund based in Wisconsin, Madison. The UW System consists of thirteen universities, thirteen two-year colleges, the University of Wisconsin-Extension, and System Administration. The endowment fund provides various facilities and builds financial support for academic programs, students, faculty, and scholarships. The assets of the fund are managed and governed by the board of regents.University of Wisconsin System Endowment's investment portfolio is valued at over $466.76 million, with investments in domestic and international equity, fixed income, private equity and cash.