Institutional Investors

Illinois Municipal Retirement Fund hires Shah as CIO


Dhvani Shah has assumed the post of chief investment officer in December at the $25 billion Illinois Municipal Retirement Fund, working closely with the board of trustees’ investment committee.

Previously, Shah was managing director of private equity for the New York State Teachers’ Retirement System and has more than 10 years’ experience in investment management, including serving as investment analyst/investment risk manager for Northwestern University.

She replaces Walter Koziol, who retired from the pension fund earlier this year. The fund has an active alternative investment portfolio that includes allocations to funds of hedge funds Aurora Investment Management,