When is the submission deadline?

Submissions are due June 16, 2026.

What is the budget for this RFP?

The published budget is $15,000,000.

It was issued by Westfield Retirement Board. The work is located in Westfield, Massachusetts, United States; Windsor, Connecticut, United States.

Who is a good fit for this opportunity?

Experienced private equity or alternative investment management firm. Demonstrated track record with secondaries strategies. In-depth knowledge of public pension system requirements. Ability to provide detailed resumes and compliance disclosures for placement agents. Prior engagements with public authorities or retirement systems.

Secondaries Investment Manager Services (Due June 16, 2026)

Overview

Financial, Legal, HR & Staffing

Westfield, Massachusetts, United States; Windsor, Connecticut, United StatesPosted: May 29th, 2026Deadline: June 16th, 2026

Fit Score

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SUMMARY

The City of Somerville seeks a provider for secondaries investment manager services to manage and oversee the retirement system's portfolio of alternative investments.

KEY REQUIREMENTS

Must be a registered investment advisor with the SEC or registered with the Massachusetts Office of the Secretary of State
Must have at least five years of experience as an investment management organization
Must have at least five years of experience managing dedicated private equity funds similar to the proposed strategy
Must agree to comply with all applicable Massachusetts General Laws and PERAC regulations
Must act as a fiduciary with respect to the funds invested on behalf of the Retirement Board
Must submit required PERAC disclosures including Vendor Contact Form, Vendor Certification, Vendor Disclosures, and Placement Agent Statement
Must provide a signed cover page confirming the proposal is a firm offer for 180 days
Must provide a certified minimum criteria response
Must provide an investment manager questionnaire and Form ADV

BUDGET

Verified

$15,000,000

CONTRACT DURATION

84 months

TIMELINE

Proposal deadline: June 16th, 2026

Opening of proposals: June 17th, 2026

Manager selection: Within 180 days of the proposal deadline

Issuing Agency

Westfield Retirement Board

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DESCRIPTION

The government authority in Somerville, Massachusetts seeks proposals from qualified vendors to provide secondaries investment manager services for the retirement system’s multi-million dollar investment portfolio. The selected vendor will offer private equity investment managers with expertise in secondaries strategies, ensuring effective oversight and management of investment assets.

The scope includes working with general partners, investment managers, sponsors of hedge funds, private equity funds, real estate funds, infrastructure funds, and any other entities to which the retirement board delegates discretionary investment authority. Bidders must disclose whether the manager, or any related principal, employee, agent, or affiliate, has compensated or agreed to compensate any individual or entity acting as a placement agent regarding investments by the public pension systems. A professional resume detailing education, designations, regulatory licenses, and investment and work experience must be provided for each placement agent. The contract period is for one year.

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Frequently asked questions

When is the submission deadline?: Submissions are due June 16, 2026.
What is the budget for this RFP?: The published budget is $15,000,000.
Who issued this RFP?: It was issued by Westfield Retirement Board. The work is located in Westfield, Massachusetts, United States; Windsor, Connecticut, United States.
Who is a good fit for this opportunity?: Experienced private equity or alternative investment management firm
Demonstrated track record with secondaries strategies
In-depth knowledge of public pension system requirements
Ability to provide detailed resumes and compliance disclosures for placement agents
Prior engagements with public authorities or retirement systems

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