Employees' Retirement System of the State of Hawaii

About Employees' Retirement System of the State of Hawaii

Employees Retirement System of the State of Hawaii holds an investment portfolio valued at $22.88 billion as of December 31, 2023. It is invested in publicly traded equities, real assets, natural resources, infrastructure, private equity, real estate, and cash. Returns over 1 year, 3 years, 5 years, and 7 years were 6.78%, 6.42%, 8.93%, and 7.97%, versus benchmark returns of 4.48%, 8.35%, 6.02%, and 7.08%, respectively. Private equity was valued at $4.3 billion as of December 31, 2023, or 19.1% of the total portfolio, up from $4.1 billion on June 30, 2023. As of December 31, 2023, the fund's private equity return for the quarter, 1 year, 3 years, 5 years, and 7 years was 0.24%, 3.95%,18.07%, 16.08%, and 16.87%, against benchmark returns of -2.80%, -5.68%, 17.69%, 8.62%, and 11%, respectively. Private equity holdings include buyouts, direct lending, distressed debt, diversified private equity, mezzanine, private equity growth expansion, secondaries, and venture capital fund strategies, diversified in geographical locations across the globe. The fund is open to first-time fund investments. The real asset portfolio was valued at $3.61 billion as of December 31, 2023. The executive management team governs the fund's investments, with Ms. Kristin Varela as Chief Investment Officer. Meketa Investment Group and Hamilton Lane act as LP Consultants.

Real estate mandate

Contacts at Employees' Retirement System of the State of Hawaii