Case Western Reserve University manages an endowment fund based in Cleveland, Ohio. Established in 1836, the endowment reflects the support of alumni and friends who are helping shape the university's present and future. It includes both those funds that the university directly controls as well as funds held by others-that is, accounts handled by external entities such as foundations, businesses, or other private organizations. The assets are managed by the Board of Trustees. a unit of the Division of Finance, the Office of Investments manages the university's funds in accordance with the policies and direction of the Investment Committee of the Board of Trustees.Case Western Reserve University Endowment's investment portfolio is valued at over $1.85 billion, with investments in equity, fixed income, private equity, real estate, and hedge funds.