Ann Caruana 

President and Chief Investment Officer

Ms. Caruana joined PEFA in 2018 and has 20 years of multifamily housing experience, including nine years in the affordable housing sector. She is responsible for PEFA’s overall business operations and investment decisions.

Prior to joining PEFA, she worked for four years with a private real estate equity firm where she specialized in the acquisition of affordable rental apartments generating economic returns, last serving as senior vice president of acquisitions. Prior to that, Ms. Caruana spent nine years with a publicly traded multifamily REIT where she served in various research and investment roles, including senior director of market research, senior investment analyst and investment manager. Ms. Caruana is a member of the Emerging Leaders Committee of the National Multifamily Housing Council, last serving as Co-Vice Chair and is a member of the Affordable Housing Committee and Women’s Leadership Initiative of the Urban Land Institute. She holds an MBA from the University of Miami, Florida and a bachelor’s degree in statistics and marketing from Miami University, Ohio.