The Dietrich Foundation’s management team is as follows:
Edward J. Grefenstette
President, CEO and CIO
Edward Grefenstette serves as the President, Chief Executive Officer and Chief Investment Officer of The Dietrich Foundation. Prior to joining in April 2010, he served as Treasurer and Chief Investment Officer of Carnegie Mellon University 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 Carnegie Mellon University. In addition to serving as a Trustee of The Dietrich Foundation, he also serves as a trustee and member of the Investment Committee of Carnegie Mellon University, a trustee and member of the Investment Committee of the University of Pittsburgh, a member of the investment committee of the University of Pittsburgh Medical Center (UPMC), a trustee of the Hillman Family Foundations and a director of The Hillman Company.
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 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 serves on Investment Committees for The Pittsburgh Symphony Orchestra and 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 markets. 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.
Nancy A. Watson
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 Analyst. 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.