Alameda County Employees' Retirement Association, Oakland, Calif....

Alameda County Employees’ Retirement Association, Oakland, Calif., yesterday authorized consultant Watson Wyatt to begin working on search criteria for an additional emerging markets manager to help reach an existing 3% emerging markets target, said Betty Tse, investment officer for the $3.4 billion fund. No decisions have been made on the search process, when the search will begin, portfolio size or funding source, she said. However, New Africa Advisors, an emerging markets manager running between $8 million and $9 million, will be retained after the search is complete, she added. The board will discuss the matter further July 15.