Deborah Spalding will take over as deputy chief investment officer of pension fund management for Connecticut, Treasurer Denise Nappier announced.

Spalding, who will start Nov. 15, will oversee Connecticut's $25.9 billion retirement plans and trust funds.

Spalding is managing partner of Working Lands Investment Partners LLC of New Haven, which she founded. The independent investment management firm invests in rapidly growing environmental markets for wetlands mitigation credits, water quality and quantity instruments, habitat banking, and carbon.

The state's Investment Advisory Council unanimously approved Spalding at its October meeting.

"After a national search, we found the right candidate with the right skill set here in Connecticut," Nappier said in a statement. "Deborah has 20 years of investment management experience in several asset classes in which we invest, and her most recent position shows her commitment to responsible investing with an understanding of environmental issues."

Spalding succeeds Gary Carter, who had been interim deputy. Carter will remain with pension fund management as principal investment officer for risk management.

Previously, Spalding was a partner at Chaplin Global LLC, an alternative asset management organization based in New York, and executive director and head of international investments for Schroder Investment Management, where she was lead portfolio manager of $6 billion in institutional client assets.

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