The $106 million Essex County Retirement Board, Salem, Mass., sent RFPs for up to two domestic ``emerging'' managers - defined as those formed by people who left other managers to start their own firms in recent years said Katherine O'Leary, chairman of the board. The system will allocate $3 million apiece, using cash on hand. ``Looking at the high returns last year, we thought the emerging managers seemed to be doing well, and to round out our portfolio we thought an emerging manager would be a good idea,'' she said.
RFPs will be due in May, said Alison Ellsworth, consultant at Segal Advisors, who is assisting.
