The Rice Management Company was established October 1, 2009, as a division of Rice University. The President of the Rice Management Company (RMC) is the Chief Investment Officer of the University. The RMC is responsible for all endowment matters of the university including asset allocation, the selection and termination of investment managers, investment consultants, and the master custodian, monitoring performance of investment managers and the entire portfolio on a regular basis, and reporting to the Rice Management Company Board of Directors.
Valued at about $1 billion in 1989, Rice’s endowment has grown to $4.84 billion as of June 30, 2013. The endowment plays an important role in the university’s financial structure as it funds approximately 40% of the annual operating budget.