Investment committees have important governance responsibilities in assuring the successful management of college and university endowments and other institutional pools of capital. The success (or failure) of the investment committee has a large, direct impact on the resources available to the institution to attract and retain quality faculty, offer scholarships to attract students, expand or improve programs, and build modern facilities. This second edition addresses the investment committee's roles and responsibilities in the context of endowment management and the examines recent challenges for investment time horizons and investment policies and practices. [This book was developed in partnership with Strategic Investment Group.]