Hawaii Employees’ Retirement System, Honolulu, committed a total of $105 million divided equally among three private equity funds, said Vijoy Chattergy, chief investment officer.
The $13.5 billion pension fund made the commitments to begin its tactical private equity plan for 2014, which calls for the pension fund to commit a total of $250 million for the calendar year.
The three funds are:
- American Securities Opportunity Fund III, a middle-market distressed debt fund;
- Providence Debt Opportunities Fund III, a middle-market debt fund managed by Providence Equity Partners; and
- Waterton Precious Metals Fund II, a commodities fund managed by Waterton Global Resource Management.
Private equity consultant Hamilton Lane made the discretionary commitments for the pension fund.