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Diossa Struggles
Starting in 2022, investigations, lawsuits, and Congressional reviews targeted RealPage, an algorithm-driven software company accused of driving up rental costs nationwide. The company RealPage is owned by Thoma Bravo.
As investigations and allegations mounted, Rhode Island General Treasurer James Diossa green-lighted a $30 million investment by the Employees' Rhode Island Retirement Fund in Thoma Bravo in 2024.
Diossa refuses to answer questions about the investment.
His spokesperson seemed unaware of the issues or, initially, of a federal lawsuit against RealPage.
GoLocal asked Diossa’s spokesperson, Carla Rojo, about the investment in Thoma Bravo and the review process.
In response to GoLocal's questions, Rojo wrote on Monday:
The staff recommendation was approved by the State Investment Commission in May 2024, several months before a complaint [U.S. Department of Justice lawsuit] was filed.
All proposed investments undergo thorough due diligence and careful deliberation in accordance with approved investment policy statements and established compliance procedures.
If you need anything else, please let me know.
Thanks!
Carla C. Rojo
Director of Communications
Office of RI General Treasurer James A. Diossa
GoLocal asked in follow-ups about the “due diligence and careful deliberation” and pointed out that a basic Google search would unveil dozens of articles, United States Senate action, actions by 17 members of the House of Representativem a civil lawsuit by renters, and coverage of federal investigations by both the U.S. Federal Trade Commission and the United States Department of Justice prior to the approval of the investment by Diossa's team. READ MORE