Investors - MAY 18, 2017

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Hawaii ERS commits $50m to real estate fund

by Jody Barhanovich

The $15.1 billion Hawaii Employees’ Retirement System has committed $50 million to AG Europe Realty Fund II, according to Vijoy Chattergy, chief investment officer.

AG Europe Realty Fund II, managed by Angelo, Gordon & Co., recently launched in March with a $750 million fundraising target. The value-added real estate fund will target a range of properties in multiple sectors, including office, retail, industrial, hotels and residential, across western Europe and the United Kingdom.

The fund’s predecessor, AG Europe Realty Fund I, was launched in 2014 with a fundraising target of $500 million, but eventually attracted $570 million in total equity commitments from investors.

In other recent news, Hawaii ERS hired Aon Hewitt Investment Consulting as its real estate consultant, pending final contract negotiations.

Hawaii ERS has a target allocation to real estate of 7

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