Hawaii Employees' Retirement System, Honolulu, rehired Hamilton Lane as its discretionary private equity consultant.
The $21.6 billion pension fund’s board approved the hiring at its Jan. 19 meeting, said Thomas Williams, executive director, in an email.
The pension fund issued an RFP in August for a discretionary consultant to oversee its private equity portfolio, which includes portfolio construction, and manager and fund selection due to the upcoming expiration of Hamilton Lane’s contract. The other finalists were StepStone Group and Wilshire Associates, Mr. Williams said.
The pension fund's private equity investments fall within its broad growth asset class, which had an actual allocation of 64% as of Sept. 30, just below its 65% target.