Pennsylvania State University Long Term Investment Pool (LTIP) is a limited partner based in University Park, Pennsylvania. The fund supports students, faculty, staff, and citizens of the Commonwealth. LTIP is a mutual fund-like vehicle used for investing the university's endowment funds, funds functioning as endowments, and other operating funds that are expected to be held long-term. A shared method of accounting for the LTIP is utilized by the university. The council regularly reviews asset allocation, new asset classes, and investment strategies. The Penn State Investment Council, created by the board of trustees in response to the university's increasing asset base and complex investment strategies, provides direct oversight of the endowment and long-term investment program.Pennsylvania State University Long Term Investment's investment portfolio is valued at over $4.23 billion, with investments in domestic and international equity, fixed income, private equity, real estate, and hedge funds. The return of the fund for the fiscal year 2018 and for 3 years, 5 years, and 10 years is 7.8%, 6.4%, 7.9%, and 6.6% respectively.