HI SB1084

Exempts the Employees' Retirement System of Hawaii from disclosing certain alternative investment information under Hawaii's public records law (chapter 92F).

Defines "alternative investments" to include private equity funds, venture funds, hedge funds, real estate funds, infrastructure funds, and private credit investments.

Exempts from disclosure 11 categories of alternative investment documents, including private placement memoranda, fund agreements, due diligence materials, financial statements, and capital call notices.

Allows the system to maintain confidentiality of proprietary investment information to remain competitive with other investors and prevent deterring high-performing funds from accepting the system as an investor.

Takes effect on July 1, 2050.