“Introducing the New Guard,” which appeared in Barron’s MFQ on July 6, showcases four managers who Barron’s identifies as having successfully made the leap from noteworthy careers at established asset management firms to becoming CEOs of their own firms. What’s the connection? Two of the managers profiled are the heads of Arnerich Massena Approved Managers (and high conviction managers at that), and we are in the midst of our due diligence process with a firm managed by one of the others.
Barron’s highlights C.T. Fitzpatrick of Vulcan Value Partners and Robert Gardiner of Grandeur Peak Global Advisors, both of whom we identified as having come out of exceptional investment firms (Southeastern and Wasatch respectively) to build something unique and differentiated, as well as investing a substantial portion of their own net worth alongside their investors. Our clients have historically been rewarded for being early investors in these types of managers. The article also spotlights Andrew Foster of Seafarer, a firm currently in the midst of our due diligence process.
We would prefer that our Approved Managers stay out of the limelight, but we understand that eventually great managers get discovered. Overall, we view this as is a nice confirmation that our manager selection process works, both in terms of identifying strong managers and in timing our entry with those firms early enough to reap the rewards but not so early that the risks outweigh the benefits.
Source: “Introducing the New Guard,” by Sarah Max; Barron’s MFQ; July 6, 2013 http://online.barrons.com/article/SB50001424052748704382404578571932055787420.html.(Note that a subscription may be required to view this article)