Chief Investment Officer, Illinois State Treasurer’s Office
Joe Aguilar is the chief investment officer for Illinois State Treasurer Michael W. Frerichs. In his role, Aguilar directs seven investment portfolios spanning public and private market investments on behalf of the Illinois treasury’s combined $48 billion investment portfolio, including the Illinois Growth and Innovation Fund, a $1billion impact investment fund investing across venture, buyout, and private credit; two 529 college saving plans; the state’s Achieving a Better Life Experience program; Student Innovation Investments; Infrastructure Development Account; and the Secure Choice Retirement Savings Program. Aguilar leads all aspects of investment implementation, including the development of processes and procedures, the office’s sustainable investment strategy, and the selection of investment products and managers. He leads the investment team and stewards all investments and external public and private market investment managers, including venture, private equity, and private credit managers invested through the office’s platforms.
Aguilar was previously the director of investment analysis and due diligence with the Illinois State Treasury, leading due diligence efforts including the manager selection process, assessment, and monitoring of all investment managers and co-investments. Prior to joining the Illinois treasury, he worked for Fortaleza Asset Management. Aguilar holds a B.S. in finance and business and commerce from Aurora University and an M.S. in finance from the University of Miami’s Herbert Business School. He serves as a board member and chair of the Investment Committee for the Field Foundation of Illinois and is an adjunct professor at Aurora University.