James B. Rosenwald

Last updated
Jamie Rosenwald [1] [2] [3]
James B. Rosenwald.jpg
Born (1958-01-19) January 19, 1958 (age 65)
New York, NY
Citizenship United States
EducationB.A. Vassar
M.B.A. NYU Stern School of Business
Occupation(s)Portfolio manager, adjunct professor
Spouse
Laura D. Parker
​
(m. 1985)​
[4]

James B. Rosenwald III (born January 19, 1958) is an American fund manager and academic who was the co-founder and managing partner of Dalton Investments LLC, [5] an asset management company headquartered in Santa Monica, California, [6] and adjunct professor at Stern School of Business at New York University. [7] He invests in the Pacific Rim area. [8] In 2020, Rosenwald co-founded Activist Japan investment trust Nippon Active Value Fund (NAVF) and launched its IPO. [9] [10] [11] [12] [13]

Contents

Early life and education

Rosenwald was born in New York City. He is a brother of designer and ceramic artist Jill Rosenwald, [14] and the first cousin of actress Kyra Sedgwick. Rosenwald attended the Dalton School in Manhattan for 13 years, where he met Steve Persky, his partner at Dalton Investments. [1] [15] He received a B.A. in economics from Vassar College (1980) and an M.B.A. from the Graduate School of Business at New York University (1984). He is a CFA Charterholder since 1987. [1] [7]

Investment career

Rosenwald commenced his investment career at Sterling Grace & Co. While acting as an outside advisor for Soros Fund Management, [16] Rosenwald met Nicholas Roditi, who was also managing money for Soros. In 1992, Rosenwald and Roditi founded and co-managed Rosenwald, Roditi & Company, Ltd., now known as Rovida Asset Management, Ltd. [1] [17] Rosenwald co-founded Dalton Investments in 1999, [6] [18] which reported $3.2 billion under management in 2022. [3]

Dalton's investment style involves holding undervalued stocks for the long term. In particular, it prefers owner-operator companies that align the interests of management and shareholders. [19] Rosenwald is also the chairman and CEO of Rosenwald Capital Management, Inc, a registered investment advisor since 1984. [20] Clients include pensions, endowments, financial services companies, profit sharing plans and high-net-worth individuals. [17]

In addition to security investments, Rosenwald has invested in real estate since 1997. He and Kyle Kazan, co-founded Beach Front Properties, LLC, a real estate investment company based in California. [21] Together, they have invested in residential and commercial properties in the U.S., China, and Germany.

Since 2012, Rosenwald has been an adjunct professor at Stern School of Business at New York University, where he teaches a course on value investing, [7] which he learned from his grandfather who worked for Benjamin Graham, the "father of value investing", at Graham Newman Corporation. [22] He and his wife, Laura, make annual contributions to NYU's endowment to fund the Rosenwald Global Value Student Investment Fund. Every year, the fund invests in one or more stocks based on recommendations made by the students in his class. [2] [23]

Public company directorships

YearCompanyLocation
2020 to PresentNippon Active Value Fund (NAVF) [24] London, UK
2011 to PresentShore Capital Corp. [21] London, UK
2006-2011Puma Brandenburg Ltd. [25] London, UK
1986-1988Richmond Hill Savings BankFloral Park, NY

Private company directorships / managing member

YearCompany
1998 to PresentDalton Investments, LLC. [5]
1984 to PresentRosenwald Capital Management, Inc. [17] [20]
1998 to PresentKings Bay Investment Company, Ltd.
2005 to 2019Dalton Berlin Real Estate Fund I, Ltd. [21]
2005 to PresentDalton Asia Fund [1] [26]
2004 to 2022Dalton Greater China Fund [16] [27] [28] [29]
1997 to PresentBeach Front Properties, LLC.
2010 to PresentBeach Front Property Management, Inc.
2001 to 2013Prodigy Asia & Emerging Markets Fund [30]
2003 to 2011Grand River Properties, Ltd. [27] [29]
2003 to 2009JMBO Fund [31] [32]
2004 to 2007Dalton Japan Absolute Return Fund
1993 to 1997Rosenwald, Roditi & Company, Ltd.

Social and charitable affiliations

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References

  1. 1 2 3 4 5 "Interview: Jamie Rosenwald on Daltons Conception Lessons Learned and His Passion for Liberal Arts". Hedge fund Intelligence. Retrieved 2013-11-08.
  2. 1 2 "Graham and Dodd Head Downtown-Los Angeles hedge-fund manager Jamie Rosenwald has launched a value-investing class at New York University". Barrons.com. Retrieved 2013-11-08.
  3. 1 2 Lee, Min Jeong and Furukawa, Yuki "Hedge Fund Activists Battle Old Japan in Toshiba’s Crucial Vote" March 21, 2022, Bloomberg News. Accessed 30 September 2023.
  4. ↑ "Laura D. Parker Becomes a Bride". The New York Times. October 27, 1985.
  5. 1 2 "Our People James B Rosenwald". Daltoninvestments.com. Retrieved 2020-11-06.
  6. 1 2 "Dalton Investments: Our Firm". Daltoninvestments.com. Retrieved 2020-11-06.
  7. 1 2 3 "James B Rosenwald-Adjunct Professor of Finance". NYU Stern School of Business. Retrieved 2020-11-06.
  8. ↑ "Executive Profile". Bloomberg Businessweek. Retrieved 2013-11-08.[ dead link ]
  9. ↑ "We're off! Nippon Active Value to launch after raising £103m". Citywire. Retrieved 2020-11-03.
  10. ↑ "Ready-meal maker Bakkavor needs something on the side". The Times UK. Retrieved 2020-11-03.
  11. ↑ "Hedge fund founder says Abe's activist army 'doing it wrong'". JapanTimes. Retrieved 2020-11-06.
  12. ↑ "Hedge Funds Say There's No Turning Back on Abe's Japan Reforms". Bloomberg. Retrieved 2020-11-06.
  13. ↑ "Why Warren Buffett's Berkshire Hathaway has a $7 billion bet on 5 Japanese stocks". Business Insider. Retrieved 2020-11-06.
  14. ↑ "Jill Rosenwald" . Retrieved 2020-11-06.
  15. ↑ "Debt Wish: Steve Persky gives the long and the short of it for his Dalton Global Opportunity Fund". Barrons.com. Retrieved 2013-11-25.
  16. 1 2 "Ex-Soros Adviser's Dalton China Fund Returns 25% This Year". Bloomberg. Bloomberg News. 25 November 2013.
  17. 1 2 3 "2 Stock Pickers Hawking Separate Japan Funds". Hedge Fund Alert. August 7, 2000.
  18. ↑ "The Distressed-Debt Detectives". Forbes.com. Retrieved 2013-11-25.
  19. ↑ "The return of the activist shareholders". Asia.Nikkei.com. Retrieved 2014-04-07.
  20. 1 2 "CD, Foreign Money Alternatives". Palos Verdes Peninsula News. February 28, 1991.
  21. 1 2 3 "Directors". Shore Capital.gg. Retrieved 2020-11-06.
  22. ↑ "Graham Newman Corporation". Carried Interest. Retrieved 2020-11-06.
  23. ↑ "Perspective from a Global Value Investor" (PDF). NYUStern Evaluation. December 2013.
  24. ↑ "Nippon Active Value". AIC. Retrieved 2020-11-03.
  25. ↑ "Executive Profile". Bloomberg Businessweek. Retrieved 2013-11-08.[ dead link ]
  26. ↑ "Celebrating best performance: Asia Hedge Awards 2012". Asia Hedge. November–December 2012.
  27. 1 2 "Hong Kong realty is the real deal". Barrons.com. Retrieved 2013-11-25.
  28. ↑ Santini, Laura (November 23, 2004). "Short Order Bears (Take Interest) in China's Shop. Hedge Funds Aim to Profit From Stock-Market Rally, But Shorting Is Difficult". Wall Street Journal Page C3.
  29. 1 2 "Dalton Greater China Fund". Asia Hedge. February 2006.
  30. ↑ "REG-Prodigy Asia & Emerging-Director/PDMR Shareholding". Reuters.com. Archived from the original on 2014-04-08. Retrieved 2013-11-25.
  31. ↑ Norton, Leslie P. (April 28, 2003). "Will Buyout Boom or Bomb in Japan?". Barrons.com.
  32. ↑ "Dalton proposes management buyout of Teikoku Hormone". Asia Pulse. Sep 21, 2004.
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