2026 Elite Institutional CIOs, Part 4

Eric Doppstadt is vice president and chief investment officer of the Ford Foundation, where he oversees the management of its $16.6B endowment. Appointed CIO in 2009, he has guided the portfolio with a long-term, mission-aligned approach, expanding the Foundation’s alternative assets exposure to include private equity, venture capital, distressed strategies, and hedge funds.

Doppstadt joined the Ford Foundation in 1989 as resident counsel before transitioning into investment leadership roles, including managing the foundation’s alternative investment program and later serving as director of private equity investments from 2000 to 2009. Earlier in his career, he practiced corporate finance, mergers and acquisitions, and international law at Paul, Weiss, Rifkind, Wharton & Garrison in New York.

He also serves as a director at Harvard Management Co. and Makena Capital Management, advising on institutional investment strategy and endowment best practices.

For 2026, Doppstadt and the Ford Foundation’s investment team are focused on making “Day One” investments in new managers.

Kathleen Jacobs serves as chief investment officer of RWJBarnabas Health, where she oversees the investment program for New Jersey’s largest health system. Since stepping into the role, she has been leading a multiyear effort to refine the system’s strategic asset allocation, balancing near-term liquidity needs with the long-term growth objectives of the $10B portfolio.

Jacobs previously spent eight years as CIO of New York University, where she directed the investment strategy for the university’s endowment and related assets. Earlier in her career, she held senior investment roles at New York-Presbyterian Hospital and the Juilliard School, following investment roles at Goldman Sachs and JPMorgan Chase. Her experience spans public and private markets, portfolio construction, and long-term capital management across major academic and healthcare institutions.

In addition to her CIO responsibilities, Jacobs serves on several boards and industry groups, including the 20-20 Investment Association, the Jeffrey Company’s Audit Committee, and multiple advisory and professional organizations focused on endowment and foundation management. She is also a life member of the Council on Foreign Relations and a founding board member of the Institutional Investor Endowments & Foundations Institute and the Private Equity Women Investor Network.

For 2026, Jacobs and her team are continuing to transition RWJBarnabas Health toward its updated strategic asset allocation to expand private equity, increasing international diversification, and adding differentiated hedge fund strategies. The investment office is also building out a deeper roster of active managers across asset classes as it advances long-term targets set in late 2024, with disciplined pacing and a focus on maintaining strong liquidity and risk controls.

Larry Krummen serves as chief investment officer for the Missouri Department of Transportation and Highway Patrol Employees’ Retirement System (MPERS), where he oversees the investment strategy and performance of the system’s $4.1B portfolio. Since joining MPERS in 2003, he has led a major transformation of the fund’s investment program— shifting it from a historically lagging portfolio to one recognized for strong long-term results and top-tier risk-adjusted performance among public plans. Krummen’s approach has emphasized effective use of alternative strategies and disciplined risk management, contributing to a Sharpe ratio that ranked among the highest in the public fund universe over the decade ending in 2020.

Before joining MPERS, Krummen served as director of investments for the Missouri State Treasurer’s Office, where he managed statewide investment programs and trading operations. He began his career working across financial analysis and portfolio management within state government. Krummen holds a bachelor’s degree in finance from the University of Missouri and is a CFA charterholder.

Shoaib Khan serves as director and chief investment officer for the New Jersey Division of Investment, where he oversees the investment program for approximately $120B in state pension assets . This total includes pension assets and the State of New Jersey’s Cash Management Fund, which held roughly $37.5 billion in assets as of Oct. 1, 2025, providing liquidity for various state agencies and local governments.

Khan joined the division in January 2021 as deputy director and deputy chief investment officer and was appointed director and CIO in 2022. He brings more than two decades of experience in alternative and multi-asset investing, having previously served as a senior portfolio manager at the Florida State Board of Administration and as global head of portfolio management at Union Bancaire Privée, a Swiss private bank. Earlier in his career, he was strategy head at J.P. Morgan Alternative Asset Management in New York, where he focused on hedge funds and other alternative strategies for institutional and high-net-worth clients. Khan holds a bachelor’s degree in business administration from Florida International University and a master’s degree in accounting from Nova Southeastern University. He is both a CFA charterholder and a CPA.

For 2026, Khan and the division’s investment team are working with the State Investment Council to review and refresh the strategic asset allocation plan, ensuring the portfolio remains appropriately positioned against its long-term return targets and risk objectives.

Yup Kim is the chief investment officer for the $47B Texas Municipal Retirement System (TMRS) and chair of its staff investment committee. He is responsible for setting and executing the system’s investment strategy, with a particular focus on building a high-conviction, globally diversified private markets program.

Before joining the TMRS, Kim served as head of private equity at the California Public Employees’ Retirement System (CalPERS), where he led the private equity program across strategy, team leadership, and global investment activities spanning primary, secondary, and co-investment opportunities. Earlier, he was a senior portfolio manager at the $80B Alaska Permanent Fund Corp., overseeing private equity and special opportunities. His prior experience also includes investment roles at Deutsche Bank’s DB Private Equity team, where he served on the investment committee, as well as at Performance Equity and Silver Point Capital. He began his career at Citigroup in New York. Kim holds a Bachelor of Arts degree from Yale University.

For 2026, Kim and the TMRS investment team are sharpening a thematic approach to private markets co-investing, targeting scalable, high-conviction opportunities that align with the system’s long-term risk and return objectives.

Rex Kim is the chief investment officer at Oregon State Treasury, overseeing the $104B Oregon Public Employees Retirement Fund. Appointed in April 2020, he is responsible for enterprise-wide governance, portfolio management, and investment strategy for one of the nation’s largest public pension systems. Since joining the Treasury, Kim has implemented enhanced governance practices, including a new investment policy statement and a strengthened committee structure. He has also elevated the institution’s capabilities in portfolio construction, liquidity management, and climate risk assessment.

Before joining Oregon State Treasury, Kim served as a senior consultant at Multnomah Group and held senior investment leadership roles at Tallwoods Partners, Common Sense Investment Management, and CTC Consulting. His career spans hedge fund research, manager due diligence, and multi-asset portfolio oversight for institutional clients. He holds a bachelor’s degree in English literature from Carleton College.

For 2026, Kim and his team are prioritizing strategic initiatives in energy transition and credit, with a focus on positioning the portfolio for long-term resilience while capturing opportunities emerging from structural shifts in global markets.

Geeta Kapadia serves as the chief investment officer of Fordham University, where she oversees the management of the university’s $1.1B endowment and directs all aspects of the portfolio management process. She joined Fordham in 2022 after serving as associate treasurer of investments at Yale New Haven Health System, where she led the team responsible for managing more than $5B across endowment, pension, and operating portfolios.

Before her tenure at Yale New Haven, Kapadia was a senior investment consultant with Mercer in London and Edinburgh, advising institutional clients on investment policy, asset allocation, manager selection, and risk management. Earlier in her career, she led the marketing function at Capital Metrics in Pune, India, supporting global research and fund-of-funds clients. She began her career at Stratford Advisory Group in Chicago.

For 2026, Kapadia and her team are focused on reshaping the portfolio to navigate greater market volatility by enhancing liquidity, strengthening partnerships with top-tier managers, aligning risks with appropriately scaled return expectations, and maintaining strict cost discipline to maximize the endowment’s long-term impact on the University and its students.

Kapadia holds a bachelor’s degree from the University of Chicago and a master’s degree in financial markets from the Illinois Institute of Technology. She is a CFA charterholder and serves as board president of the Chester County Family Academy, in addition to contributing to several industry and community organizations.

Jason Klein is senior vice president and chief investment officer at Memorial Sloan Kettering Cancer Center, where he oversees more than $9B in global investment assets. Since joining MSK in 2008 to establish the Investments Office, Klein has built an innovative and top-performing platform recognized by peers for excellence in portfolio construction, manager selection, and long-term performance.

He is an active member of the institutional investment community and serves on multiple investment committees, including those of the College Board and the Council on Foreign Relations. Klein previously served as CIO of the Museum of Modern Art and held senior roles in private equity at Lehman Brothers. He holds a Master of Business Administration degree from the Wharton School, a Juris Doctor from the University of Pennsylvania Carey Law School, and a Bachelor of Arts degree from Wesleyan University.

Sriram Lakshminarayanan is the chief investment officer of the Iowa Public Employees’ Retirement System (IPERS), where he oversees a $46.68B portfolio supporting more than 400,000 members across the state. He joined IPERS in 2014 as chief risk officer, leading major initiatives including a $500M hedge fund overlay and a $300M alternative risk premia program. Promoted to CIO in 2022, Lakshminarayanan brings deep expertise in risk management, quantitative modeling, and portfolio construction, guiding IPERS’ long-term investment strategy to strengthen the system’s financial health. He also serves as a director at the University of Minnesota Foundations Investment Advisors and holds a Master of Science degree from Ohio University.

Kim Lew is the chief executive officer of the $15.9B Columbia Investment Management Co., where she oversees the endowment of Columbia University in the City of New York. Prior to joining Columbia in 2020, she served as chief investment officer of the Carnegie Corp. of New York, following more than a decade at the Ford Foundation. Lew began her career in the middle-market banking group at Chemical Bank before moving to Prudential Capital Group after business school. Lew serves on the boards of Ariel Investment Management Mutual Funds and Girls Who Invest, as well as on the investment committees of the ACLU and the National Gallery of Art. She earned a Bachelor of Science degree in economics from the Wharton School of the University of Pennsylvania and a Master of Business Administration degree from Harvard Business School.

For 2026, Lew’s priorities include expanding Columbia’s exposure to real assets and deepening the endowment’s international investment reach.