Hawaii Employees' Retirement System, Honolulu, committed $35 million to American Securities Partners VII, a buyout fund, said Vijoy Chattergy, chief investment officer.
The $14.1 billion pension fund previously committed $35 million to American Securities Opportunities Fund III, a distressed debt fund.
As of Dec. 31, the pension fund had a 7% long-term target allocation to private equity and an actual allocation of 4.3%.
Separately, the pension fund will consider additional strategies to complement its covered calls and credit strategies within its new stabilized growth category, Mr. Chattergy said. RFPs could be issued in the second half of the year. He did not have additional details at this time.
Finally, the pension fund returned 6.6% for the year ended Dec. 31, surpassing its policy benchmark of 5.9%.
