Hawaii Employees' Retirement System's board approved a commitment to Senior Housing Partnership Fund VI, managed by PGIM Real Estate, said Elizabeth Burton, chief investment officer.
The $16.6 billion Honolulu-based pension fund previously committed $25 million to Prudential Senior Housing Partners V in 2014. Ms. Burton said the amount of the new commitment has yet to be determined.
The commitment will be allocated to the pension fund's non-core real estate asset class, which has an actual allocation of 2.5%.
