Isn't that generally the idea, though? You give your money to an entity that is presumed to be better at investing it than you ie bank, portfolio manager, mutua

Isn't that generally the idea, though? You give your money to an entity that is presumed to be better at investing it than you ie bank, portfolio manager, mutual fund etc. etc. The roundaboutness doesn't seem odd to me - the issue in my mind is if this is a sound investment decision for Hawaii. I'm not sure. The answer may be different after this sketchiness, as it could have been legitimately expected that it would help their tech sector in some way. That may still be the case. It really depends on the risk profile Hawaii is going for and the financial status of the state.