The Rhode Island Department of Treasury’s investment team has appointed Elizabeth Caldas as the new deputy CIO, according to a newsletter on Feb. 21. The Rhode Island Department of Treasury oversees all of the state’s investment assets, including its pension, the Employees’ Retirement System of Rhode Island.
Prior to joining the Rhode Island Department of Treasury, Caldas served as senior investment officer for the New York City Comptrollers for almost two years and also as investment officer of private equity for the United Nations for about nine years.
As of June 30, 2024, The Employees’ Retirement System of Rhode Island had $11.4 billion in total assets under management, with a 4 percent target allocation to real estate and a 4 percent target allocation to infrastructure. As of then, it had $610.2 million in total real estate investments and $457.4 in total infrastructure investments.
