The Yale University endowment is the world's second-largest university endowment and has a reputation as one of the best-performing investment portfolios in American higher education.[1][2][3] The endowment was established at Yale University, then Yale College, in 1718 from an initial fund of £562 provided by Elihu Yale and has grown to more than $40 billion in value over the ensuing 300 years.[4] It is managed by the Yale Investments Office.