HIERS commits $20m to Japan-focused opportunity fund

The $16.3 billion Employees’ Retirement System of the State of Hawaii has committed up to $20 million to a Japan-focused opportunity real estate fund, according to Howard Hodel, CFA, acting chief investment officer for the pension fund.
Fortress Japan Opportunity Fund IV is managed by Fortress Investment Group, a diversified global investment manager. The opportunistic fund will invest in debt secured by properties throughout Asia.
This is not HIERS first commitment to the Fortress fund series. In 2014, HIERS committed $20 million to the fund’s predecessor, Fortress Japan Opportunity Fund III, which held a final close of approximately $1.1 billion.
HIERS has a target allocation to real estate of 7 percent.

HIERS commits $20m to Japan-focused opportunity fund
QR Code
Embed the QR code on your website: