Hawaii Employees' Retirement System, Honolulu, approved a commitment of up to $50 million to Torchlight Debt Opportunity Fund VII, a real estate debt fund managed by Torchlight Investors, said Elizabeth T. Burton, chief investment officer, in an email.
The $18 billion pension fund previously committed $50 million to Torchlight Debt Opportunity Fund VI in 2017.
As of Dec. 31, the actual allocation to real return was 3%.
