Investors

Connecticut names deputy CIO after year-long vacancy

The Connecticut system of pension funds has appointed Laurie Martin, formerly at a Massachusets-based nonprofit healthcare institution, to replace Deborah Spalding.

By
Annabelle Ju
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Connecticut Retirement Plans and Trust Funds has appointed Laurie Martin as its deputy chief investment officer, according to a statement from CRPTF. 

She started in her role on 7 October. 

Among her responsibilities, the deputy CIO collaborates with the CIO in relation to investments, particularly supporting the oversight of CRPTF funds’ performance and reporting requirements and managing relationships with investment consultants.

The Hartford, Connecticut-based pension system manages $30 billion in assets across Teachers’ Retirement Fund, State Employees’ Retirement Fund, and Municipal Employees Retirement Fund. 

Some of its unlisted infrastructure fund commitments include $50 million to ArcLight Energy Partners V, which closed on $3.3 billion in 2011; and $85 million ArcLight Energy Partners VI, which closed on $5.58bn in 2015, according to Infrastructure Investor Research and Analytics.

Martin comes from the treasury services department within Baystate Health, a Massachusetts-based nonprofit healthcare system, where she served as director for 12 years, according to the CRPTF statement. In that role, Martin oversaw Baystate’s investment programme that included endowment, pension, insurance, and operating funds. Before Baystate, she served as an accountant at ITT Hartford and at Mass Mutual Life Insurance Company. Earlier in her career, she was an audit and tax specialist at KPMG.

“In today’s investment environment of low returns, it is imperative that we maintain and strengthen operational efficiency at the lowest possible cost,” Connecticut state treasurer Denise Nappier said in the statement. 

“Laurie’s strong investment acumen and her impressive record in achieving best practices, including back and middle office functions, proved to be most complementary to our in-house team of investment professionals.”

She is replacing Deborah Spalding, who had served as deputy CIO between 2013 and 2015. Spalding became CRPTF’s CIO in July 2015, after which there was a vacancy for deputy CIO, according to CRPTF spokesman David Barrett.