The Essex County Retirement Board, Salem, Mass., picked three emerging domestic equity managers from the five finalists it interviewed in July, said Cynthia Kendall, chief executive assistant.
They are: Castle Rock Capital Management, $3 million in small-cap stocks: Hutchens Investment, $3 million in large-cap stocks; and Sector Capital Management, $1 million in a core S&P 500 portfolio.
Assets came from cash. Segal Advisors assisted.
The retirement system, with $113 million in assets, does not intend to make other changes until a new chairman comes on board in January.