Investors - MAY 26, 2015

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Hawaii commits $50m to two debt funds

by Zoë Wolff

The State of Hawaii Employees’ Retirement System has made two new real estate debt commitments totaling $50 million, according to Vijoy Chattergy, CIO for HIERS.

The $14.4 billion pension fund committed $30 million to H/2 Core Real Estate Debt Fund. The open-end fund is managed by H/2 Capital Partners.

HIERS additionally committed $20 million to Torchlight Debt Opportunity Fund V, a real estate debt fund managed by Torchlight Investors. Other recent investors have included the Nebraska Investment Council and the Illinois Municipal Retirement Fund.

“We are prudently adding debt strategy in real estate, given the levels of valuations in the asset class,” says Chattergy.

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