Hawaii Employees’ Retirement System, Honolulu, made six new private equity and two new real estate commitments, all totaling $235 million, said Vijoy Chattergy, chief investment officer.
The $14.4 billion pension fund committed $35 million each to Abraaj Growth Markets Fund, a private equity fund seeking growth opportunities in emerging markets, managed by The Abraaj Group; Blackstone Tactical Opportunities Fund II, a special situations fund managed by Blackstone Group; Kelso Investment Associates IX, a buyout fund managed by Kelso & Co.; and TPG Growth III, a buyout fund that invests in small and midsized companies.
Other private equity commitments were $30 million to EnCap Energy Capital Fund X, an oil and gas fund managed by EnCap Investments, and $15 million to New Enterprise Associates 15, a venture capital fund.
The pension fund also announced two new real estate commitments: $30 million to H/2 Core Real Estate Debt Fund, an open-end fund managed by H/2 Capital Partners, and $20 million to Torchlight Debt Opportunity Fund V, a real estate debt fund managed by Torchlight Investors.
Separately, Mr. Chattergy said the pension fund returned 2.7% in the quarter ended March 31, in line with its benchmark, and 7.5% in the year ended March 31, 30 basis points above the 7.2% benchmark.