Hawaii Employees' Retirement System, Honolulu, committed $25 million to Polaris Venture Partners VIII, managed by Polaris Partners, said Vijoy Chattergy, chief investment officer of the $14 billion pension fund, in an e-mail.
Private equity consultant Hamilton Lane made the discretionary commitment for the pension fund
The pension fund previously committed $15 million to predecessor fund Polaris Venture Partners VII in 2014.
The pension fund also previously committed $5 million to Polaris Venture Partners VI through its Hawaii targeted investment program, a venture capital fund of funds managed by Stafford Capital Partners.
The pension fund has a 13.5% long-term allocation to private equity.