Why Smith College Is Moving Its Endowment In-House The $2 billion fund, now in the market for its first CIO, decided it’s big enough to shift asset management internally. Smith College is about to start a search for the inaugural investment chief for its endowment, which it will move to internal management after outsourcing assets for more than a decade, the school said Thursday. A search for the chief investment officer at the women’s school in Northampton, Massachusetts, will be conducted by executive search firm David Barrett Partners, and overseen by investment committee chair Deborah Farrington, an alumna of the school.