Rice Management Company manages an endowment fund on behalf of Rice University which is based in Houston, Texas. The earnings from endowment investments support scholarships, chairs, professorships, fellowships, basic research, as well as academic and public service progra Rice University's endowment investment portfolio is valued at over $6.5 billion, with investments in private equity, oil & gas, natural resources, timber, real estate, and hedge funds. Endowment has annual returns of 6.5% over the past 10 years and 7.2% over the past 20 years.