Michael Barry will take over as Georgetown’s next chief investment officer, University President John J. DeGioia announced in an email Tuesday afternoon.

“I am thrilled to join Georgetown University and honored to serve this community,” Barry said in a press release. “In joining the investment team, I look forward to continuing the tradition of excellence, especially at such a critical time in the global economy.”

Barry is currently CIO of the University System of Maryland Foundation, where he manages the assets of 11 member universities and six nonprofit clients. The USMF endowment totaled about $817 million in 2010.

He will fill the position formerly held by CIO Larry Kochard, Georgetown’s first-ever chief investment officer, who left to manage the University of Virginia’s endowment in January. Kochard is credited with growing Georgetown’s endowment and instituting competitive day-to-day practices in the investment office. Christine Kelleher has served as acting CIO since his departure.

Barry also holds a position as an advisory board member of No Greater Sacrifice, a charity that provides college scholarships for the children of killed and wounded soldiers. In addition, he serves on the investment committees for the Association of Public and Land-Grant Universities, the Council for Advancement and Support of Education and the France-Merrick Foundation.

Georgetown’s endowment hit a record $1.1 billion in January, marking a rebound from the financial crisis level of $889 million in 2009.