Key Takeaways
- • The Town of Wellesley, Massachusetts is seeking an investment consultant for its retirement board and its Other Post-Employment Benefits (OPEB) trust, according to PEI Private Equity.
- • The request for proposal (RFP) was issued in early July 2026 and reported by PEI on July 3, 2026.
- • The mandate covers consulting for both the retirement system and the OPEB trust, two distinct pools of public-sector assets.
- • Similar consultant RFPs were reported by PEI from Chicago FABF, NHRS, SERS, SJCERA and Westfield, indicating active public pension consultant searches.
Summary
The Town of Wellesley is seeking an investment consultant for its retirement board and its Other Post-Employment Benefits trust, according to a PEI Private Equity "Investor Intentions" report published July 3, 2026, written by Rinoa Wong. The item is a brief notice of the RFP rather than a detailed description of scope, fee terms or selection timeline, and the primary source does not disclose those details.
The mandate spans two distinct pools: the Wellesley retirement board's pension assets and the trust set aside for other post-employment benefits, commonly retiree healthcare obligations. Engaging a single consultant across both mandates is typical for municipal plans of this size, as it allows consistent asset allocation oversight and reporting across the two vehicles.
PEI's report is one of several Investor Intentions items on public pension consultant searches. The same series also flagged RFPs from Chicago FABF, NHRS, SERS, SJCERA and Westfield Retirement Board, the last of which sought private equity secondaries capabilities. Taken together, the cluster points to a steady flow of US public plans reviewing their investment advisory arrangements.
For managers and consultants, RFP notices of this kind signal potential changes in advisory relationships, which can influence manager shortlists and allocation recommendations. Firms that cover public pension clients should monitor the submission deadlines and evaluation criteria once they are published.
The mandate spans two distinct pools: the Wellesley retirement board's pension assets and the trust set aside for other post-employment benefits, commonly retiree healthcare obligations. Engaging a single consultant across both mandates is typical for municipal plans of this size, as it allows consistent asset allocation oversight and reporting across the two vehicles.
PEI's report is one of several Investor Intentions items on public pension consultant searches. The same series also flagged RFPs from Chicago FABF, NHRS, SERS, SJCERA and Westfield Retirement Board, the last of which sought private equity secondaries capabilities. Taken together, the cluster points to a steady flow of US public plans reviewing their investment advisory arrangements.
For managers and consultants, RFP notices of this kind signal potential changes in advisory relationships, which can influence manager shortlists and allocation recommendations. Firms that cover public pension clients should monitor the submission deadlines and evaluation criteria once they are published.
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