Hawaii ERS Targeting up to $1B in 2024 to Private Equity

The Hawaii Employees’ Retirement System is looking to place $800 million to $1 billion in private equity in 2024. 

According to meeting materials, the retirement fund is primarily focused on buyout investments, while opportunistically looking to invest in venture capital and growth equity managers.

Geographically, the Plan aims to focus on exposure to North America, while assessing opportunities in Western Europe and Asia.

Effective January 1, 2024, the new target allocation for private equity is 19%, up from the previous target of 13.5%.

As of June 30, 2023, the Retirement Fund has allocated 19.1% to private equity.

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