Filter by type:  Public Members  |   Permanent Members  |   Employee and Retirement Representatives

The Minnesota Legislature has established a seventeen member Investment Advisory Council (IAC) to advise the Board and its staff on investment-related matters. All proposed investment policies are reviewed by the IAC before they are presented to the Board for action.

IAC Mission Statement

The IAC fulfills its statutory duty to the Minnesota State Board of Investment (SBI) by providing advice and independent due diligence review of the investment policy and implementation recommendations that guide the SBI’s investment of assets.


Public Members

The Board appoints ten members from the public experienced in finance and investment. These members traditionally have come from the Minneapolis and St. Paul investment community.

Gary Martin, Chair

Chief Investment Officer
Macalester College

Kim Faust, Vice Chair

Vice President and Treasurer
Fairview Health Services


Amy Jensen

Chief Investment Officer
Lansing Group, LLC


Dan McConnell

Minnesota State Building and
Construction Trades Council


Nancy Orr

Chief Investment Officer,
Vice President - Investments
Charles Stewart Mott Foundation

Carol Peterfeso

Managing Director of Investments
Bush Foundation


Dennis Santos

Senior Vice President & Chief Investment Officer
Okabena Investment Services


Sunil Swami

Chief Investment Officer


Jen Wilson

Senior Managing Director,
Private Equity

Shawn Wischmeier

Chief Investment Officer
Margaret A. Cargill Philanthropies



Permanent Members

The Commissioner of Minnesota Management and Budget and the Executive Directors of the three statewide retirement systems (Minnesota State Retirement System, Public Employees Retirement Association, and Teachers Retirement Association) are permanent members of the IAC.

Erin Campbell

Minnesota Management & Budget

Erin Leonard

Executive Director
Minnesota State Retirement System

Doug Anderson

Executive Director
Public Employees Retirement Association

Jay Stoffel

Executive Director
Teachers Retirement Association


Employee and Retirement Representatives

The Governor appoints two active public employee representatives and one retiree representative to the IAC.

Denise Anderson

Governor's Appointee
Active Public Employee Representative

Ify Onyiah

Governor's Appointee
Active Public Employee Representative

Peggy Ingison

Governor's Appointee
Retiree Member Representative