Essex County Retirement Board, Salem, Mass., will search for an...

Essex County Retirement Board, Salem, Mass., will search for an alternative investments manager as the result of a new asset allocation. RFPs will go out shortly. The $183 million system now has an allocation of 5% to alternative investments, up from 1% previously. The new asset allocation also shifted the system’s domestic equity exposure to 36% from 55%; international equity to 10% from 7%; fixed income to 35% from 30%; high-yield bonds to 5% from 3%; and real estate to 6% from 4%. The remaining 3% of the new allocation is to cash. Segal Advisors assisted.