Connecticut State Treasurer Erick Russell announced the promotion of Denise Stake to be the state’s deputy CIO. Stake will help lead the overall investment strategy of Connecticut’s public defined benefit pension funds and investment trusts.
Stake joined the treasurer’s office in 2022 as a principal investment officer for real assets. The State of Connecticut Retirement Plans and Trust Fund consists of six public pension funds and 12 trust funds. CRPTF manages $56.9 billion in assets, as of June 30, 2024.
“Denise’s expertise in strategic investment management and her deep industry knowledge have made her an invaluable member of our investment team,” Russell said in a statement. “I know her strong leadership will help to ensure the long-term financial health of the CRPTF.”
Before joining the treasurer’s office, Stake was a real estate portfolio manager at Barings and was the director of research at the National Council of Real Estate Investment Fiduciaries. She earned a bachelor of science degree in real estate and finance and a master’s degree in economics from the University of Connecticut.
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Succeeding Stake as principal investment officer for real assets is Amit Aggarwal, who had been working as a real estate investment officer at the Los Angeles County Retirement Association. Aggarwal previously worked as an investment officer at the California Public Employees’ Retirement System.
Amit Aggarwal
“I’m also pleased to welcome Amit to our team. Attracting and retaining top talent is one of my primary goals as Treasurer, and Amit is a great example of the kind of investment professional we’re eager to bring on board,” Russell said in the announcement. “Our pension fund management team has a well-deserved stellar reputation, and professionals like Amit will help us to build on that success as we continue to deliver positive investment returns for Connecticut.”
Aggarwal earned a bachelor of science degree in business administration from Sonoma State University and an MBA from the University of Illinois, Urbana-Champaign.
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Tags: Connecticut, CRPTF
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