Employees' Retirement System of the State of Hawaii (HIERS)

About this data

Holdings as this LP reports them, fund by fund. Amounts are its commitment to each fund. As of March 31, 2026. Source: HIERS Private Equity Partnerships: Performance Summary by Investment. Funds are linked to a manager by name; a match can be wrong, and the original filing is the record. How Hottub reads its sources.

ERS posts a quarterly "Performance Summary by Investment" of its private equity partnerships in which only "Capital Committed", "Paid-In Capital" and "Reported Market Value" (with the date of that value) are filled in; the Capital Distributed, Remaining Cost, Net IRR and TVM columns are empty in the published version. So committed, paid-in and market value are shown, in whole US dollars as printed, and distributed, total value, IRR, TVPI and DPI are blank; nothing is derived or estimated. The report says paid-in capital includes both commitment and non-commitment reducing capital calls, that cash flows are HIERS' actual cash paid and received, and that market values reflect HIERS' unrealized interest in each investment. "Vintage Year" is as printed. All 371 investments are included as ERS classifies them by strategy (61 Buyout - Large, 42 Buyout - Mega, 59 Buyout - Mid, 13 Buyout - Small, 3 Co/Direct Investment, 6 Distressed Debt, 40 Growth Equity, 10 Mezzanine, 2 Secondaries, 10 Special Situations, 125 Venture Capital), in the report's blocks: Core (334), Stafford Capital Management - 1 (8), Stafford Capital Management - 2 (11), Stafford Capital Management - 3 (17), Stafford Ho'oulu Fund (1); the Stafford Capital Management blocks list the partnerships held through the Hawaii Targeted Investment Program funds (HiTIP I, II and III) that ERS's Holdings page also reports separately. They add up to the printed Grand Total of $8,371,769,464 committed, $6,707,086,129 paid in and $5,197,639,074 reported market value. 114 investments have no remaining value (liquidated, or not yet called), shown as 0; 9 others carry a value dated before the report date. Each page of the report carries the legend "Institutional Use Only/Not for Public Use | Proprietary and Confidential"; this is the version ERS itself posts on its Holdings page. ERS's separate private credit, real assets and timber reports are not imported.