The University of Virginia appointed Georgetown’s Chief Investment Officer Lawrence Kochard to become chief executive of UVA’s Investment Management Company. Kochard will finish the calendar year with Georgetown and start his post at UVA on Jan. 1.

Since hiring Kochard to be Georgetown’s first chief investment officer in June of 2004, the university’s endowment increased from $680 million to its current value of $1 billion.

University President John DeGioia said in an email about Kochard’s appointment that Chris Augostini, Georgetown’s Chief Financial Treasurer, and he were working with Kochard to find a successor for his position.

At $4.6 billion, UVA’s endowment is one of the five largest in public education and one of the top 30 among all colleges, according to UVA’s website. Kochard will reportedly be responsible for the $3 billion core endowment and cash management for the university.

Georgetown’s National Association of College and University Business Offices (NACUBO) ranking increased under Kochard’s term from the 77th largest endowment to the 67th largest endowment from 2004 to 2009, according to DeGioia. Before his appointment, Georgetown’s endowment was managed by an outside consultant and a board of directors.

At Georgetown’s McDonough School of Busieness, Kochard taught investment classes and coauthored a book on foundation and endowment investing.

DeGioia said of his departure, “I can only begin to express my appreciation for Larry’s commitment to Georgetown. He will be deeply missed.”

Kochard obtained his master’s and PhD in economics from UVA and taught as an adjunct professor of finance for the McIntire School of Commerce at UVA. He also previously served as the managing director of equity and hedge fund investments for the Virginia Retirement System.

According to UVA’s press release, Kochard said, “UVIMCO has one of the strongest and most respected teams in the investment world and one of the strongest and most respected boards . I love the University of Virginia and this community, so this is really coming home for me.”

Kochard currently lives in Charlottesville, Va. with his wife and four children, one of whom is a junior at UVA’s School of Engineering and Applied Science. His predecessor Christopher Brightman resigned earlier this year for personal reasons.