Hawaii ERS commits $50m to debt fund

The $15.4 billion Employees’ Retirement System of the State of Hawaii has committed up to $50 million to Torchlight Debt Opportunity Fund VI, according to Vijoy Chattergy, chief investment officer of the pension fund.

Torchlight Debt Opportunity Fund VI is managed by Torchlight Investors, a New York–based investment manager. The fund has an opportunistic investment approach and invests in debt secured by U.S. properties.

The fund has previously received commitments from the $38.6 billion Illinois Municipal Retirement Fund and the $8 billion San Diego City Employees’ Retirement System.

In 2015, Hawaii ERS committed $20 million to the predecessor fund, Torchlight Debt Opportunity Fund V.

Since its inception, Torchlight has acquired more than $20 billion in commercial real estate deb