Employees' Retirement System of the State of Hawaii

About Employees' Retirement System of the State of Hawaii

Employees Retirement System of the State of Hawaii's investment portfolio is valued at $22.88 billion as of December 31, 2023, with investments in publicly traded equities, real assets, natural resources, infrastructure, private equity, real estate, and cash. Its return for 1 year, 3 years, 5 years, and 7 years was 6.78%, 6.42%, 8.93%, and 7.97% compared to the benchmark return of 4.48%, 8.35%, 6.02%, and 7.08%, respectively. As of December 31, 2023, the private equity portfolio was valued at $4.3 billion, representing 19.1% of the total portfolio. This is an increase compared to June 30, 2023, when the private equity portfolio was valued at $4.1 billion. As of December 31, 2023, the fund's private equity return for quarter, 1 year, 3 years, 5 years, and 7 years was 0.24%, 3.95%,18.07%, 16.08%, and 16.87% compared to the benchmark return of -2.80%, -5.68%, 17.69%, 8.62%, and 11%, respectively. Investments in private equity include buyouts, direct lending, distressed debt, diversified private equity, mezzanine, private equity growth expansion, secondaries, and venture capital fund strategies diversified in geographical locations across the globe. The fund is open to first-time fund investments. As of December 31, 2023, the real asset portfolio was valued at $3.61 billion. The fund's investments are governed by the executive management team with Ms. Kristin Varela serving as Chief Investment Officer. Meketa Investment Group and Hamilton Lane serve as LP Consultants.