Hawaii Employees puts $40 million into 2 real estate funds
By Kevin Olsen | September 17, 2012 1:02 pm
Hawaii Employees' Retirement System, Honolulu, committed $20 million each to CBRE Strategic Partners U.S. Value Fund VI, managed by CBRE Global Investors, and Almanac Realty Securities VI, run by Almanac Realty Investors, confirmed Vijoy Chattergy, interim chief investment officer.
Both offerings are value-added real estate funds.
The $11.5 billion pension fund had committed $50 million to the predecessor CBRE fund; it is its first commitment with Almanac Realty.
Real estate consultant Courtland Partners assisted.