Hawaii Employees' Retirement System, Honolulu, committed $50 million to the AG Realty Value Fund X, said Howard Hodel, acting chief investment officer of the $16.5 billion fund.
The value-added real estate fund is managed by Angelo, Gordon & Co.
The pension fund, which has a 5% target to core real estate and a 4.5% target to non-core real estate, has previously committed to other Angelo Gordon funds.
