Hawaii Employees' Retirement System, Honolulu, put real estate consultant Aon Hewitt Investment Consulting on watch because of organizational changes, said Vijoy Chattergy, chief investment officer.
On Sept. 1, Aon announced it was acquiring real estate investment management and consulting firm The Townsend Group for $475 million.
The $15.6 billion pension fund has a 5% target to core real estate and a 4.5% target to non-core real estate.
