Essex County Retirement System, Salem, Mass., hired three real estate managers. The $198 million system awarded $2 million to Intercontinental Real Estate Fund, and $1 million each to Sentinel Real Estate Fund and the SSR Realty Advisors Apartment Fund, said Timothy Bassett, board chairman. All are new managers.
Funding comes from annual rebalancing, he said. The system is working toward increasing its real estate exposure to the 5% allocated.