Smith College announced on Thursday it is establishing its own in-house investment office to manage endowment assets, a move that it says puts the school’s model in line with that of other colleges and universities with similar assets. The university had been outsourcing the management of its endowment to outsourced CIO firm Investure since 2004. Smith will continue to work closely with that firm over the next several years as it transitions its investment positions and makes other necessary arrangements, according to a statement announcing the move. A search for the college’s first CIO will be chaired by Smith alumna Deborah Farrington and supported by recruiting firm David Barrett Partners.