Khan will step into the Co-Chair role after years as a board member, here he reflects on his experiences with AIF and as a CIO
Shoaib Khan is the Director and Chief Investment Officer at the New Jersey Division of Investment. The Division of Investment is responsible for the investment oversight of approximately $120 billion including the State of New Jersey’s pension funds with approximately $79 billion as of September 30, 2025, supporting the retirement plans of over 800,000 members. The Division of Investment also manages the State of New Jersey’s Cash Management Fund with assets of approximately $38 billion as of September 30, 2025.
Prior to joining the Division of Investment, Mr. Khan served as a Senior Portfolio Manager at the Florida State Board of Administration in Tallahassee, Florida. He has also previously served as Global Head of Portfolio Management at Union Bancaire Privee (UBP) in Geneva, Switzerland and Strategy Head at J.P. Morgan Alternative Asset Management in New York.
Khan has served on the Investor Advisory Board at AIF Global for several years and will be Co-Chairing the board in 2026. AIF Global sat down with him for a Q&A about his new role and how he is thinking about the future as a CIO.
Q&A with Shoaib Kahn
AIF: You’ve been involved with AIF Global for a number of years and now you’ll be taking over as co-chair for the Investor Advisory Board. How do you balance your involvement in AIF and being CIO? Do you find your work with AIF to add value to your work as CIO?
SK: Yes, definitely. Because such a big part of the objective of AIF Global as an organization is the focus on academics and its role as an economic think tank there is a lot of knowledge sharing. The content is always high value. Networking is so important as a CIO to interact with your peers and there are a lot of opportunities to do that through the programming each year. AIF is also interested in our contribution as investors and managers of pools of capital. That’s attractive to me because it does give us an opportunity to provide feedback and share our experience.
AIF: Speaking of knowledge sharing, what are some of the themes you are focused on right now? What do you hope to touch on during this programming year?
SK: Yes definitely, there are so many conversations we started last year that I think we are going to build on this year so I am looking forward to that. Regulation and economic policy changing so fast around us which is obviously important as a CIO because it can impact portfolio performance. We are probably going to see Washington have a bigger impact on portfolios than we have seen in a while.
AIF: When you talk to your peers what’s your sense of investor recognition of AIF and its role in the institutional investor community?
SK: I think it’s huge. My sense is that investors get a lot of value out of the content and programs and are very aware of AIF as an organization. The membership is a real who’s who of institutional investors. We’ve had opportunities to speak with people like the Chancellor of the Exchequer and provide feedback and that’s big. That’s impactful.
AIF: You mentioned the regulatory changes we are seeing, we also have new asset classes we didn’t have fifteen years ago and new structures. How do you see these trends as a CIO? Does being able to provide feedback help?
SK: Yeah it is tremendously important. Being able to engage and ask questions helps us really understand what’s going on, right? And we do have new asset classes so that’s an education process so that we can understand and stay on top of those changes. We are also seeing the growth of retail investors in alternative assets – which is new. Anytime you have more investors going after the same opportunities that changes how they behave and that can impact portfolio performance. So we have to pay attention to that.
AIF: You’ve also watched the launch of the Future Leaders group and our soon to launch Private Wealth center. How do you see those themes fitting into the institutional landscape?
SK: Well we have to build the pipeline right? We need to find ways to support incoming CIOs and build community. And it’s the same with private wealth – as we mentioned retail investors are playing a bigger role. Private wealth managers are doing more. AIF’s focus on education it’s important for both of these groups but it’s really good for all of us right? We need to do the knowledge sharing and the networking – that’s how you learn.