# Virginia Museum of Fine Arts

Virginia Museum of Fine Arts is an Endowment / Foundation based in Richmond, United States.

## Overview

- **Organization type:** Endowment / Foundation
- **Headquarters:** Richmond, United States
- **Region:** North America
- **Address:** 200 North Arthur Ashe Boulevard, Richmond, VA 23220, United States
- **Founded:** 1936
- **Assets under management:** Undisclosed
- **Website:** vmfa.museum

## About

The Virginia Museum of Fine Arts was founded in 1936 and remains owned and operated by the Commonwealth of Virginia. Alex Nyerges serves as Director and CEO. The VMFA Foundation, established in 1976, handles fundraising and asset management to support curatorial, acquisition, and education activities. The museum maintains direct ownership of its main campus, Robinson House, Pauley Center, and the planned McGlothlin Wing II expansion. Its permanent collection includes the Lillian Thomas Pratt Fabergé Collection, the McGlothlin Collection of American Art valued at $100 million, and the Sydney and Frances Lewis Collection. Geographic exposure centers on Richmond, Virginia, with acquisitions drawn from global sources. The portfolio includes significant illiquid holdings in real estate and art assets rather than fund commitments or co-investments. The VMFA Foundation reported endowment assets of approximately $337 million. Makena Capital Management and RiverFront Investment Group act as investment advisors. Lawrence E. Kochard, CIO of Makena, serves as Foundation Treasurer. U.S. Bank provides custody services. In March 2026 the museum sponsored the See Yourself Here campaign focused on capital expansion and endowment growth. State agency status creates a hybrid governance model in which the Commonwealth supplies operating support and oversight while the separate Foundation manages private donations. This arrangement limits external manager relationships and directs resources toward collection stewardship and public programs.

## Sectors

- Arts & Culture

## People

- Alex Nyerges — Director and CEO
- Matt Cooper — President of the VMFA Board of Trustees
- Lawrence E. Kochard — Treasurer of the VMFA Foundation Board

## Questions

### Who runs investment decisions at Virginia Museum of Fine Arts?

Alex Nyerges serves as Director and CEO. The VMFA Foundation Board, with Lawrence E. Kochard as Treasurer, oversees endowment assets through external advisors Makena Capital Management and RiverFront Investment Group.

### Does Virginia Museum of Fine Arts participate in fund commitments or only direct deals?

The institution holds direct ownership of real estate assets on its campus and art objects in its permanent collection. No fund commitments or external manager allocations appear in available records.

### Where does the underlying support come from?

Primary funding comes from the Commonwealth of Virginia as the owner and operator. The VMFA Foundation, a separate 501(c)(3), raises private donations for acquisitions and programs.

### What is Virginia Museum of Fine Arts known posture on co-investments alongside external GPs?

No co-investment activity with external general partners is documented. Capital deployment focuses on direct ownership of collection items and campus facilities.

### How is Virginia Museum of Fine Arts related to the Commonwealth of Virginia?

The museum functions as an agency of the Commonwealth, which provides state funding and oversight. The VMFA Foundation operates independently as the fundraising and asset-management vehicle.

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Last updated: 2026-06-03T20:00:00.000Z

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