Hedge Funds People Moves

Maryland director of investments to join Metropolitan Museum of Art


Vanessa Melendez spent nearly seven years overseeing the University of Maryland’s hedge fund portfolio.

Vanessa Melendez, the director of investments at the University System of Maryland, will be leaving the $817 million endowment to join the $2.1 billion endowment of New York’s Metropolitan Museum of Art.

She will start in her new role of senior investment officer on July 1 and report to chief investment officer Suzanne Brenner. Melendez declined to comment.

The Met managed $2.9 billion in late 2008, of which approximately 20% was in hedge funds and absolute return strategies. As a result of the crisis, the endowment lost $800 million, leading the Met to reduce staff by 14% in 2009. The