National Gallery of Art taps Kelleher as investments chief

The National Gallery of Art, the premier Washington, DC-based art museum, has named Christine Kelleher as chief of investments. In her new role, Kelleher will be overseeing the museum’s $850 million endowment. Prior to her new appointment, Kelleher was a managing director at New York City-based Avec Capital, a private equity placement firm.


New York – August 28, 2017 – Avec Capital Managing Director, Christine Kelleher is joining the National Gallery of Art as Chief of Investments overseeing its $850 million endowment. In this role Ms. Kelleher will be responsible for constructing a direct alternative investment program.

Avec Capital Senior Managing Director and Founder, Nina Lesavoy is pleased to congratulate Ms. Kelleher on her appointment noting, “Christine is the ideal person to take the management of the National Gallery’s endowment to the next level. Her experience developing and implementing alternative asset investment programs including her background in asset allocation, risk management and forensic style investment manager due diligence, has been extremely valuable for the Avec Capital team and the investment managers with whom we partner.”

Since 2013 Ms. Kelleher has served as Managing Director at Avec Capital. Prior to Avec Capital she spent nine years at the Georgetown University Investment Office in Washington, DC, where she served as Senior Investment Officer.

Ms. Lesavoy added, “Her asset class expertise in global public and private equity, natural resources, real estate and hedge funds, has enhanced and strengthened our entire team. She has brought to us many interesting funds to personally invest with, including BioInnovation Capital I, which is a differentiated early stage life science fund leveraging off four innovation labs in Cambridge, San Francisco, San Diego and Durham. Although we will miss her greatly, in addition to our appreciation of her as a thoughtful and supportive colleague, we can’t thank her enough for all the shared knowledge and experience which will remain as her legacy with the Avec team.”

Avec Capital’s team includes Managing Director, Nina Lesavoy and Senior Advisor Joseph Vet along with colleagues Amanda Havriluk and Johanna Gregory. Ms. Lesavoy is an investment management professional and fundraising advisor with 30 years of experience in the institutional investment and private equity space.

Mr. Vet during his nearly 30 years tenure at the NYS Teachers’ Retirement System rejuvenated the System’s interest in private equity and took the program from $100 million in commitments to over $5.3 billion.

Collectively the team has deep and diverse experience in investment management, fundraising and client service. Their understanding of the institutional diligence and vetting process as it relates to complex strategies managed by a diverse pool of investment managers, serves as a valuable resource for the Avec principals who invest individually in the funds with whom the firm partners.