What's Being Discussed
The Hawaii Employer-Union Health Benefits Trust Fund (EUTF) Investment Committee is meeting on Monday, August 17, 2026, at 9:00 a.m. at the City Financial Tower in Honolulu. The EUTF manages health benefits for state and county employees, retirees, and their families. This meeting focuses on how the fund's money is being invested. Key topics include:

Private closed-door session: Evaluating investment managers for private credit and private equity, and receiving updates on private market investments
Investment performance: A review of how the fund's investments performed in the second quarter of 2026
Private credit and equity reports: Detailed reviews of these specific investment categories from the first quarter of 2026
Private real assets report: An update on investments in real assets (such as real estate or infrastructure) from Q1 2026
Investment Policy Statement revisions: Possible updates to the rules that guide how the fund invests
Governance education: A training session on delegated authority — meaning who has the power to make certain investment decisions

Decisions Expected

Approval of minutes from the May 18, 2026 meeting
Possible approval of revisions to the Investment Policy Statement, which sets the guidelines for managing the fund's money
Potential actions following evaluations of private credit and private equity investment managers

Who Should Pay Attention

State and county employees and retirees whose health benefits are funded through the EUTF
Dependents covered under EUTF health plans
Anyone interested in how public employee benefit funds are managed and invested

The meeting is open to the public in person or via Microsoft Teams. Written testimony can be submitted to eutfadmin@hawaii.gov. For accessibility needs, contact Ms. Desiree Yamauchi at (808) 587-5434.