Third Avenue Management LLC serves as investment manager to Third Avenue Capital p.l.c.

Our value-oriented investment strategies are available through the following investment vehicles:

 

We strive to preserve and create wealth for clients by adhering to a disciplined fundamental, value-driven approach and by limiting investment risk.

 

The investment offerings described on this site are not available for purchase by U.S investors.

Ian Lapey and Michael Lehmann to Co-Manage the Third Avenue Value Fund UCITS
Marty Whitman to Remain Chairman of Third Avenue Trust, which oversees Third Avenue’s U.S. mutual funds.

February 10, 2012, New York, NY – Third Avenue Capital plc, an investment adviser to private and institutional clients, announced today that portfolio managers Ian Lapey and Michael Lehmann will share duties related to the management of the Third Avenue Value Fund UCITS. Third Avenue’s founder, Martin J. Whitman, who has been a manager of the UCITS fund since its 2009 inception, will step down as Co-Portfolio Manager but will remain as Chairman of the U.S. fund complex.

Mr. Lapey and Mr. Lehmann will continue to be supported by Curtis Jensen, Third Avenue's Chief Investment Officer, as well as the rest of the firm's 29-person investment team.

David M. Barse, Chief Executive Officer of Third Avenue Management said, "We have long provided for a smooth transition from Marty Whitman to the outstanding team we have built over the years."

For Mr. Whitman, this transition is the next step in the evolution of an investing career that spans more than six decades. In addition to remaining as Chairman of Third Avenue, he will continue to play an active role in the research process, offering his advice, guidance and wisdom to the Third Avenue investment team.

A Value Approach to Investing

Third Avenue Capital p.l.c. utilizes a disciplined fundamental, bottom-up approach to identify appropriate investments with the sole objective of delivering superior returns with limited investment risk, over the long term.

We are guided by one proven value philosophy, which focuses on the strength of a company's balance sheet and the discounted price of its securities. Our belief is that a strong, well-managed company can survive difficult environments, and the price of its securities will eventually reflect its true intrinsic value.

Our research approach is opportunistic and not constrained by market capitalization, industry sector, or geographic location.