# The Clarence T.C. Ching Foundation

The Clarence T.C. Ching Foundation is an Endowment / Foundation based in Honolulu, United States.

## Overview

- **Organization type:** Endowment / Foundation
- **Headquarters:** Honolulu, United States
- **Region:** North America
- **Address:** Honolulu, HI, United States
- **Founded:** 1967
- **Assets under management:** $113M (Altss estimate)
- **Website:** clarencetcchingfoundation.org
- **LinkedIn:** https://www.clarencetcchingfoundation.org/

## Regulatory record

- **Reports private funds:** No

## About

The Clarence T.C. Ching Foundation was established in 1967 by Clarence T.C. Ching, a prominent Hawaiian developer and philanthropist who co-founded Hawaii National Bank and spearheaded major land projects, including the transformation of Damon Tract into what is now Honolulu International Airport's industrial park. His granddaughter, Catherine H.Q. Ching, and nephew, Raymond J. Tam, now serve as trustees, ensuring that the foundation's grant-making and investment activities remain anchored by family governance (per Altss research). The foundation maintains an investment strategy that spans venture capital, buyouts, collateralized loan obligations, fund-of-funds commitments, and direct real estate. Its direct holdings include a significant mixed-use residential, commercial project near downtown Honolulu and the Airport Industrial Park. This dual posture — operating as both a grant-maker issuing checks to Hawaii-focused education and healthcare nonprofits and an active, diversified institutional investor — sets it apart from foundations of comparable size. The foundation's grant-making and investments are run by Chairman John K. Tsui, a former president of First Hawaiian Bank, and Executive Director Tertia Freas, a former Deloitte partner. The team oversees the deployment of an estimated $113M in assets (Altss estimate), targeting sectors as varied as early-stage startups and natural resources through fund commitments and direct co-investments. Recent activity details are not publicly disclosed. The foundation's architecture is distinct because it fuses a charitable mission with a sophisticated institutional portfolio under a single board, leveraging multi-generational family trustees and professional operators with deep commercial banking and Big Four accounting backgrounds. This blends patient family capital with professional oversight in a structure that keeps both philanthropic and investment assets tied to the founder's original Hawaii-centric vision.

## Sectors

- Real Estate
- Private Credit
- Hedge Funds
- Venture Capital
- Secondaries & Special Situations
- Education
- Healthcare Services
- Infrastructure

## People

- John K. Tsui — Chairman of the Board of Trustees
- Raymond J. Tam — Trustee
- Catherine H.Q. Ching — Trustee
- Tertia Freas — Executive Director

## Questions

### How does the Clarence T.C. Ching Foundation generate returns to fund its grantmaking?

The foundation invests its endowment across a diversified portfolio that includes publicly traded securities, real estate, venture capital, private credit, and natural resources. Its largest real estate assets — Kukui Gardens affordable housing and the Airport Industrial Park — are legacy properties from Clarence Ching's development career. The venture and private credit allocations provide growth exposure, while the foundation's real estate generates income directly tied to its founder's original business.

### What is the relationship between the foundation and Kukui Gardens?

Kukui Gardens is an affordable housing complex in Honolulu's Liliha neighborhood that was developed by Clarence T.C. Ching and remains part of the foundation's portfolio. The foundation's affiliated non-profit, Kukui Gardens Corporation, sponsors and operates the property. This means the foundation is both the owner and the operator — a direct real estate play rather than a passive investment.

### Who runs the foundation's investment decisions?

The Board of Trustees, chaired by John K. Tsui, oversees investment strategy alongside its grantmaking duties. Tsui is the former President of First Hawaiian Bank and brings institutional banking experience to the portfolio. Day-to-day operations are managed by Executive Director Tertia Freas, a former Deloitte partner. The foundation does not publicly detail whether it uses an external OCIO or internal investment committee for specific asset allocation decisions.

### What sectors does the foundation target through its venture capital and private credit allocations?

The foundation's investment strategy is broad and not limited to specific sectors. Its venture allocation spans early-stage through late-stage investments, including fund-of-funds commitments, and its private credit activity covers CLOs and special situations. The foundation is also exposed to natural resources. This diversified approach reflects an institutional portfolio rather than a thematic or impact-focused venture strategy.

## Related profiles

- [Solomon R. Guggenheim Foundation](https://altss.com/profile/solomon-r-guggenheim-foundation)
- [United States Olympic & Paralympic Committee](https://altss.com/profile/united-states-olympic-paralympic-committee)

---

Last updated: 2026-07-06T00:39:01.939Z

Canonical page: https://altss.com/profile/the-clarence-t-c-ching-foundation

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology