DENISE STAKE PROMOTED TO DEPUTY CHIEF INVESTMENT OFFICER AT THE STATE OF CONNECTICUT OFFICE OF THE TREASURER

08/08/2025

DENISE STAKE PROMOTED TO DEPUTY CHIEF INVESTMENT OFFICER AT THE STATE OF CONNECTICUT OFFICE OF THE TREASURER

Amit Aggarwal Named Principal Investment Officer, Real Assets

Denise Stake Amit Aggarwal

HARTFORD, Connecticut - State Treasurer Erick Russell announces today that Denise Stake has been promoted to the position of Deputy Chief Investment Officer for the state of Connecticut. In this role, Stake will help lead the overall investment strategy and administration of the Connecticut Retirement Plans and Trus Funds (CRPTF), which includes the pension funds for retired teachers and state workers.

Stake joined the Treasurer's office in January 2022 as Principal Investment Officer, Real Assets. With 35 years of investment experience, she has held numerous key leadership positions in the industry, including Managing Director and Real Estate Portfolio Manager at Barings LLC and Director of Research at the National Council of Real Estate Investment Fiduciaries (NCREIF).

Stake holds a B.S. in Business Administration with a focus on Real Estate and Urban Economics, as well as an M.A. in Economics, both from the University of Connecticut. She serves on the Pension Real Estate Association (PREA) Foundation Board and has previously filled leadership roles in both PREA and NCREIF.

"Denise's expertise in strategic investment management and her deep industry knowledge have made her an invaluable member of our investment team," said Treasurer Russell. "I know her strong leadership will help to ensure the long-term financial health of the CRPTF."

Amit Aggarwal has been named Principal Investment Officer, Real Assets, the role formerly held by Stake. Aggarwal most recently worked as Investment Officer, Real Estate, with the Los Angeles County Retirement Association (LACERA). In this position, he was a senior member of the team that managed LACERA's real estate portfolio of approximately $4.1 billion in assets. He previously worked as an investment officer with the California Public Employees' Retirement System (CalPERS) and as an analyst with the California State Board of Equalization.

Aggarwal earned a B.S. in Business Administration from Sonoma State University in California and an M.B.A. from the University of Illinois, Urbana Champaign.

"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," continued Treasurer Russell. "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."

About the Office of the Treasurer

The Office of the Treasurer is charged with safeguarding Connecticut's financial resources through prudent cash management and debt management, with the State Treasurer serving as principal fiduciary for six state pension and twelve state trust funds. Additionally, the Office enhances the state's fiscal stability through programs promoting financial literacy and college savings, and it leverages business partnerships to support the advancement of Connecticut's social and policy priorities, including combating gun violence and protecting our environment. The Office of the Treasurer is led by State Treasurer Erick Russell, the first Black out LGBTQ person to win an election for statewide office in American history. To learn more, visit portal.ct.gov/ott.

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Contact: Brett Cody
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