Westfield Retirement Board cuts real estate allocation

The Massachusetts-based public pension has reduced its allocation to the asset class.

Institution: Westfield Retirement Board
Headquarters: Westfield, United States
AUM: $234.0m
Allocation to alternatives: 18.37%

Westfield Retirement Board saw its real estate exposure decrease by nearly one percentage point during the first six months of 2019, a contact at the pension informed PERE. The pension’s allocation to the asset class stood at 10.50 percent as of the end of December 2018, before dropping to 9.72 percent as of the end of June 2019.

The $234 million US public pension’s target allocation to real estate remains 10.0 percent despite the decline in actual allocation.

As illustrated below, Westfield Retirement Board has committed to three real estate funds since 2012, with the most recent commitment being $6 million to Long Wharf Real Estate Partners V.

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