Duke Management Company manages an endowment fund that is based in Durham, North Carolina. Established in 1989, Duke Management Company is a professionally-staffed investment organization controlled by Duke University. In addition to managing Duke's endowment, Duke Management Company manages the employees' retirement pool, invests much of the university's working capital, and advises the Duke University Health System on investments. It also manages the assets of The Duke Endowment, the private charitable trust established by Duke University's founder, James B. Duke. The endowment is managed by the executive management team.