Hawaii Employees slates $269 million for private equity, real estate

Hawaii Employees’ Retirement System, Honolulu, committed $269 million total to six alternative funds, said Vijoy Chattergy, chief investment officer, in an email.

The $15 billion pension fund committed $50 million each to buyout fund Veritas Capital Fund VI; oil and gas fund EnCap Energy Capital Fund XI, managed by EnCap Investments; distressed debt fund Benefit Street Partners Debt Fund IV; and real estate fund AG Europe Realty Fund II, managed by Angelo, Gordon & Co.

The pension fund also committed $44 million to buyout fund Silver Lake Partners V and $25 million to venture capital fund New Enterprise Associates 16.

The pension fund has previously committed to other EnCap, Benefit Street and New Enterprise Associates funds.

The pension fund, which has a 14.5% private equity target, is targeting $450 million to $600 million in total private equity commitments this year. Of that amount, $219 million has been committed so far.