The $12.9 billion Hawaii Employees’ Retirement System has committed $50 million to McMorgan Infrastructure Fund, confirms Vijoy Chattergy, CIO of the pension fund. Courtland Partners advised Hawaii ERS on the investment.
McMorgan Infrastructure Fund is a feeder vehicle into the Global Strategic Investment Alliance, a $10 billion consortium of investors led by a $5 billion commitment from the Ontario Municipal Employees Retirement System. The fund plans to hold a close in March.
This is Hawaii ERS’ first investment in the vehicle and into a direct investment infrastructure fund. The commitment is part of the pension fund’s real return assets portfolio, which has a 5 percent target.