Lili'uokalani Trust (LT)

Lili'uokalani Trust (LT)

Liliʻuokalani Trust was established in 1909 by Queen Liliʻuokalani, Hawaii's last reigning monarch. The foundation operates as a private operating entity that delivers services to Native Hawaiian children in early childhood, youth development, and opportunity youth categories. The trust allocates across private equity, real estate, and venture capital. It holds direct positions in land assets including Keahuolū Ahupuaʻa in North Kona and fee interests beneath Waikiki Beach Marriott Resort & Spa. Additional holdings include the Queen Emma Street Building acquired in 2018 and Leihano Project Land purchased in 2015. Geographic focus remains Hawaii with limited exposure through external managers in the United States and Hong Kong. Structures include limited partner commitments to vehicles such as Industry Ventures Secondary Fund VIII and Lilly Asia Ventures. The organization employs 201 professionals and maintains its headquarters in Honolulu. It sold the Kona Industrial Park portfolio in 2024. Adjacent vehicles center on the foundation itself, which reported $30.8 million in giving in recent periods. Service providers include Cambridge Associates as investment advisor since 2021 and First Hawaiian Bank as custodian since 1978. The trust maintains a direct ownership model over legacy lands and program facilities rather than relying solely on external managers. This structure ties investment decisions to mission outcomes in education and youth services while preserving control over culturally significant real estate.