Executive Team

Dipesh Mehta

Interim Executive Director, General Counsel, and Chief Compliance Officer

Dipesh Mehta serves as the Deputy Executive Director, General Counsel and Chief Compliance Officer at the Illinois State Board of Investment. In this position, Mr. Mehta is responsible for overseeing ISBI’s legal matters, providing a wide range of legal advice/opinions to the ED/CIO regarding investment matters and compliance with federal and state laws, as well as serving as the Secretary of the Board of Trustees of ISBI.


Prior to joining ISBI in 2018, Mr. Mehta advised a broad array of venture capital, private equity and start‐up firms with an acute focus on deal sourcing, legal structure, and valuations. Mr. Mehta also previously held positions at Sterling Partners, Chapman and Cutler LLP, and Aon Corporation.


Mr. Mehta received his J.D. from Loyola University Chicago School of Law, where he served as the Executive Editor of the Consumer Law Review and was a Rose Marie Russo Scholarship recipient. Prior to law school and under a Damen Scholarship, he earned his B.B.A. in Finance and Economics from the Quinlan School of Business at Loyola University Chicago.

Scott Richards

Senior Investment Officer – Private Markets

Scott Richards serves as the Senior Investment Officer at the Illinois State Board of Investment, where he has dedicated over 30 years of his career. In this role, Scott oversees and monitors all Private Market investment areas including but not limited to: Private Equity, Private Debt, Real Estate, and Infrastructure. In addition, during his tenure at ISBI, Scott has worked in numerous facets of ISBI’s investment and operations business units.


Scott obtained his BBA from the University of Wisconsin-Madison and his MBA from the University of Illinois-Springfield. In his free time, he enjoys swimming and competing in Master’s Meets throughout the United States.