David Greenberg has left the Virginia Tech Foundation after being chief investment officer for roughly three years, two people familiar with the $3 billion investment office confirmed. Maggie Millhiser, Virginia Tech’s managing director of investments, is currently the interim investment chief. 

Neither Millhiser nor Greenberg could be immediately reached for comment.

Millhiser joined VTF in 2024 after being a director at VCU Investment Management Company, where she invested across asset classes, and worked as an investment associate at OCIO firm Investure. She’s also on the board for the Sheltering Arms Foundation, which supports disadvantaged children and families in Minnesota. 

Greenberg, who was the CIO at the California Endowment when he joined VTF in 2023, was hired to establish operations and expand its investment team in Richmond, Virginia. A year later, he had revamped the foundation's investment reporting, grown the team, and begun repositioning the portfolio by adding hedge funds and preparing to increase private equity exposure. "The objective is to effectively have a reset and set things up moving forward in a way that it puts the foundation in a position to maximize performance," Greenberg told II in 2024.

The Virginia Tech Foundation manages Virginia Tech University’s endowment, in addition to an extensive real estate portfolio valued at $548 million as of December. The foundation nearly doubled its allocation to real estate in 2022. The organization’s structure, where it serves as asset manager for Virginia Tech rather than operating within the university, informs its investment style.