Hawaii Public Employees' Retirement System, Honolulu, committed up to $50 million to CBRE Strategic Partners U.S. Value 9, a value-added and opportunistic real estate fund managed by CBRE Global Investors, confirmed Elizabeth Burton, chief investment officer, in an email.
The $16.6 billion pension fund previously committed up to $50 million to CBRE Strategic Partners U.S. Value 8 in 2017.
As of Dec. 31, the actual allocation to the pension fund's real return asset class was 3.3%; the target is 7%.
