Hawaii ERS commits $50m to Kayne Anderson Real Estate Partners V

The $15.6bn US public pension targets a North America-focused fund for its first investment of 2018.

The Hawaii Employees’ Retirement System (ERS) committed up to $50 million, pending final negotiations, at Monday’s board meeting to Kayne Anderson Real Estate Partners V, Chief Investment Officer Vijoy Chattergy confirmed in an email.

The $15.6 billion US public pension has a 7 percent target allocation to private real estate that currently stands at 5.5 percent.

Kayne Anderson’s fifth flagship vehicle, which has a target size of $1.2 billion, plans to invest in a variety of specialized real estate sectors in North America, with a particular focus on student housing.

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