Essex County Retirement Board, Salem, Mass., hired Boston Millenia to handle $5 million in venture capital investments, according to Kevin Leonard, consultant for Segal Advisors, who assisted in the search. The money will come from cutting back the fund's exposure to existing managers. The $164 million fund has 64% of its assets in equities and the remainder in fixed income.
A memorial service will be held Sunday for Richard Crowell, founder of PanAgora Asset Management.
Mr. Crowell, 57, died Aug. 22 at his home after a long battle with cancer. He was active at PanAgora until quite recently. A pioneer in quantitative investing, he was known for his interest in risk management and behavioral finance.
The service will be at 1:30 p.m. at Park Street Church in Boston. Donations may be made to the Park Street Church Deacon's Fund or to Lahey Clinic's Cancer Center