The Dietrich Foundation’s management team is as follows:
Edward J. Grefenstette
President, CEO and CIO
Ed Grefenstette serves as the President, Chief Executive Officer and Chief Investment Officer of The Dietrich Foundation. Prior to joining Bill Dietrich in April 2010, he served as Treasurer and Chief Investment Officer of Carnegie Mellon University (CMU) in Pittsburgh. He previously co-founded Commonwealth Capital Group, L.P., a small-cap private equity fund, following seven years in investment banking and law. He earned his AB in Economics with honors from Georgetown University, a JD with honors from Georgetown University Law Center, and an MBA in Finance and Strategy with honors from CMU. Ed has been a frequent speaker on topics in private equity/venture capital at conferences and universities around the world, particularly on VC in emerging markets. In addition to serving as a Trustee of The Dietrich Foundation, he currently serves as a trustee and/or member of the investment committee of Carnegie Mellon University, the University of Pittsburgh, and the University of Pittsburgh Medical Center (UPMC). He also serves as a Trustee of the Thomas and Sandra Usher Camp (aka, SB2W Citikidz).
Matthew E. Cunningham
Matthew Cunningham joined in March 2022 and serves as a Managing Director. He focuses on portfolio construction and manager selection in various asset classes including private equity, (specializing in buyout and energy), public equity, and special situations. Matthew previously served as Deputy Chief Investment Officer at UPMC. During his 13-year tenure he oversaw the significant global expansion of that firm’s private capital portfolio. Prior to that, he was a Senior Vice President and Senior Portfolio Manager at Mellon Equity Associates. He earned his AB in Economics with Honors from Georgetown University and is a Chartered Financial Analyst (CFA). Beyond his role at the Foundation, Matthew serves as a Trustee at Point Park University, and serves on the Investment Committees of the Pittsburgh Symphony and the McElhattan Foundation.
Ryan L. Vaccaro
Ryan Vaccaro joined The Dietrich Foundation in May 2012 and serves as a Managing Director. He focuses on portfolio construction and manager selection in various asset classes including private equity (specializing in venture capital and growth equity), public equity, and hedge funds. He was formerly a Senior Research Analyst with Mellon Capital Management where he performed global quantitative equity research. Prior to his role at MCM, he executed business and derivatives valuations at both Deloitte and Ernst & Young. Ryan is a CFA Charterholder and earned an MS in Management in Operations Research from Case Western Reserve University as well as a BS in Mathematics with honors from Westminster College. Beyond his role at the Foundation, Ryan is the Investment Committee Chair and member of the Executive Committee and Board of Directors of the Pittsburgh Symphony Orchestra and serves on the Investment Committee of the Pittsburgh Cultural Trust.
Lee S. Tilghman
Lee Tilghman joined in May 2015 and serves as a Managing Director. He focuses on manager selection and portfolio monitoring with a special interest in emerging managers. He was formerly a Transaction Associate with BNY Mellon’s Global Corporate Development team where he analyzed acquisitions, divestitures, and early-stage financial technology investments for the bank. Prior to BNY Mellon, he was a field artillery officer in the US Army’s 101st Airborne Division. Lee earned his BA in Mathematics at Vanderbilt University and his MBA at the University of Pittsburgh. Outside of the Foundation, Lee serves on the Executive Board of the Laurel Highlands Council BSA and the Carnegie Hero Fund Commission.
Nancy A. Watson
Senior Vice President – Finance
Nancy Watson joined in June 2012. Previously, Nancy had served as a Senior Manager in the public accounting firms of Parente Beard LLC and McCrory and McDowell LLC with a concentration in audits of non-profit organizations. Nancy graduated magna cum laude from the University of Pittsburgh with a BS in Business/Accounting. She is a Certified Public Accountant licensed in the State of Pennsylvania.
Mariah A. Salas
Mariah Salas joined in January 2021 and serves as the Operations Manager. Previously, Mariah had served as a Senior Accountant and Database Manager for the YMCA of Greater Pittsburgh. She graduated from Slippery Rock University with a BS in Information Systems and a minor in Accounting and an MS in Healthcare Information Management. Mariah is also a Certified Public Accountant licensed in the State of Pennsylvania.
Julie M. Staley
Julie Staley joined in June 2022 and serves as the Investment Analyst. Previously, she interned with the Foundation, .406 Ventures, and Hurdle Health (a portfolio company of .406 Ventures). Additionally, she was a part of the .406 Student Fellows program. She graduated from Wake Forest University with a BS in Finance and Minor in Chinese Language and Culture.