Swampscott (Mass.) Contributory Retirement System is searching for a...

Swampscott (Mass.) Contributory Retirement System is searching for a private equity fund-of-funds manager to handle $1 million. The search was prompted by discussions between board members and Segal Advisors, the $27 million system's investment consultant, about diversifying into new asset classes, said Richard DiPesa, retirement administrator. Funding will come from fixed income, which now represents 35% of the plan's assets, Mr. DiPesa said. System officials hope to hire a manager in a few months, Mr. DiPesa said.