Westfield Retirement Board has issued a request for proposals targeting private equity secondaries investments, signaling continued institutional interest in the growing secondary market. The US pension overseer manages a $353m investment portfolio and plans to commit $15m to this new mandate.

Private equity secondaries have gained traction among institutional investors seeking diversified exposure without typical blind pool risks. These transactions allow investors to purchase stakes in existing private equity funds, often at attractive discounts to net asset value.

The RFP reflects broader market trends where pension funds increasingly allocate to secondary strategies amid volatile public markets. This move positions Westfield among peers exploring alternative routes to private market returns.

The $15m allocation represents roughly 4% of Westfield's total portfolio, indicating measured rather than aggressive exposure to secondaries markets. This strategic approach suggests the board prioritizes portfolio stability over concentrated bets in secondary investing.