Robert “Chip” Rewey, III has joined Third Avenue Management’s Investment Team as Lead Portfolio Manager of Third Avenue’s flagship Value strategy and Co-Lead Portfolio Manager of the company’s Small-Cap strategy.
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Robert “Chip” Rewey, III Joins Third Avenue Management’s Investment Team
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June 10, 2014, New York, NY – Third Avenue Management LLC (“Third Avenue”), an investment adviser to private and institutional clients, today announced that Robert “Chip” Rewey, III, CFA, has joined the firm as Lead Portfolio Manager of Third Avenue’s flagship Value strategy and Co-Lead Portfolio Manager of the company’s Small-Cap strategy. In his role, Mr. Rewey will drive strategy and oversee portfolio management by working with the current Value and Small-Cap Investment Teams. Prior to joining Third Avenue, Mr. Rewey was Senior Vice President and Senior Portfolio Manager at Cramer Rosenthal McGlynn, LLC (“CRM”) for more than ten years with increasing levels of responsibility, including oversight of the smid, mid, large and all cap investment strategies.
“I am exceptionally pleased to welcome Chip to Third Avenue’s Investment Team. Our firm has consistently pursued a fundamental, high-conviction approach to deep value investing for over 28 years, and we have developed a repeatable investment process that requires curiosity and tenacity to source the best ideas. Chip has a significant track record in fundamental, value investing and we believe he can effectively lead our Value and Small-Cap strategies and build on our existing capabilities,” said David Barse, Chief Executive Officer at Third Avenue.
Commenting on Chip’s arrival, Marty Whitman, Founder, Chairman and Portfolio Manager at Third Avenue, said, “Chip is a like-minded investor who truly understands the deep value investment philosophy that we have long-practiced at Third Avenue. I am confident that he will enhance our idea generation and investment process for years to come.”
Third Avenue Management is a global, multi-strategy investment firm defined by a value-driven philosophy and committed to building differentiated high-conviction portfolios. Third Avenue’s fundamental, bottom-up investment approach seeks to capitalize on opportunities across geographies, industries and market capitalizations throughout the capital structure. Currently, Third Avenue oversees assets across five strategies – Value Equity, Small-Cap, Real Estate, International and Credit – which are available to investors through mutual funds, separate accounts, UCITS funds and alternative products. Third Avenue leverages the collaborative expertise across the broader Investment Team in order to evaluate ideas from multiple perspectives in order to efficiently identify securities with the most compelling risk/return opportunities.
Commenting on his new role, Mr. Rewey said, “I am thrilled to join Third Avenue and to work collaboratively with such an extraordinary group of investment professionals. Throughout my career I have embraced Marty Whitman’s fundamental approach to long-term, value investing: focusing on a company’s balance sheet, the value of its underlying assets, and the discounted price of its securities. This foundation has shaped and influenced my career as an investor.”
Mr. Rewey has spent more than 23 years in the investment management industry. For the last ten years plus, he’s had increasing investment authority, and most recently had direct oversight for over $12 billion in value-oriented strategies for CRM. Prior to CRM, he was Senior Portfolio Manager at Sloate Weissman Murray & Company, where he worked directly with the Founder on research and portfolio construction. He began his career as an Associate at Smith Barney after completing his MBA at Duke University and graduated Magna Cum Laude from Boston College.