Dipesh Mehta

Illinois State Board of Investments

When it comes to diversity in the implementation of investment policy and asset allocation, following Johara Farhadieh is not an enviable task. The well-respected and thought leading Executive Director and CIO departed for Wespath in 2023. Dipesh Mehta now takes over the helm as the Executive Director and Chief Investment Officer of the Illinois State Board of Investment. He oversees over $28 billion in assets between the defined benefit and defined contribution plans and is responsible for overseeing all investment operations, managing and executing ISBI’s investment policies, and assisting the Trustees in the strategic direction of ISBI. He is very familiar with the work that made Ms. Farhadieh so beloved by the diverse manager community, having previously served as ISBI’s Deputy Executive Director and General Counsel. A lawyer by training, Mehta has a strong background in private equity having advised a broad array of venture capital, private equity, and start‐up firms. He is very familiar with deal sourcing, legal structure, and valuation. The fund is now over 40% managed by minority managers with over 50% of its alternatives portfolio being managed by such managers. Under Mehta, the fund remains committed to providing opportunities for minority managers and leading the industry by way of action and results.