Joe Tolen is a Senior Investment Director of Credit Strategies based at the London offices of Cambridge Associates.

Prior to joining Cambridge Associates in 2023, Joe was Director of Multi-Asset Strategies for the Indiana Public Retirement System (“INPRS”) for four years. In his role Joe was responsible for the formulation and implementation of the Absolute Return and Risk Parity portfolios (~$11.5bn of Defined Benefit assets). Within Absolute Return, Joe focused on allocations to Insurance Linked, Fixed Income Relative Value, Global Macro, Event Driven, Structured Credit, CTA, Multi-Strategy, Co-Investments, and Fund of Fund strategies. The Risk Parity portfolio was made up of direct manager allocations as well as an internal custom index. Before his role at INPRS, Joe worked on the Equity Derivatives Sales Trading desk for Morgan Stanley in London. In this role, Joe served as sales coverage for North American-based clients trading European options, futures, swaps, and exotics.

Joe holds a Bachelor of Science in Finance and Entrepreneurship from Indiana University and is a CAIA Charterholder.