Executive Team

Dipesh Mehta

Executive Director and Chief Investment Officer

Dipesh Mehta serves as the Executive Director and Chief Investment Officer of the Illinois State Board of Investment (ISBI). He oversees over $28 billion in assets between the defined benefit and defined contribution plans on behalf of more than 175,000 beneficiaries. In his leadership position, Mr. Mehta is responsible for overseeing all investment operations, managing and executing ISBI’s investment policies, and assisting the Trustees in the strategic direction of ISBI. Mr. Mehta previously served as ISBI’s Deputy Executive Director and General Counsel.


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 minored in Economics at 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.

David Schneider

Chief Operating Officer and Chief Financial Officer

David Schneider serves as ISBI’s Chief Operating Officer and Chief Financial Officer. In his executive role, David oversees ISBI’s in-house business operations, pension asset portfolio custody operations, back office finance and accounting processes, and related internal and external reporting efforts.


Prior to joining ISBI, David’s career centered on accounting and financial reporting, primarily in financial services, including a long tenure with The Federal Reserve.


David obtained Bachelor of Science degrees in Accountancy and Information Systems from Southern Illinois University, and he holds an active CPA license. Outside of work, David enjoys physical fitness and yoga, and exploring Chicago with his greyhound.