Rhode Island treasurer Gina Raimondo became the latest state treasurer, following the Massachusetts and California treasurers, to direct a state pension fund to review its investments in the aftermath of the Sandy Hook Elementary School shooting on Dec. 14.

Raimondo announced on Dec. 19 that she has directed Cliffwater, one of the state’s investment consultants, to review the pension fund’s investments holdings for firearm and ammunition manufacturers and distributors. The preliminary search identified that Rhode Island invests with one private equity firm, Wellspring Capital Management, which has a stake in United Sporting Companies, a firearms distributor. United Sporting also sells shooting accessories and hunting supplies.

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