Opalesque Industry Update - Foundry Partners, LLC, has added to its
Cleveland office with its acquisition of the Small and Mid Cap Value team from Dreman Value
Management, LLC. The Dreman team brings approximately $700 million in assets
under management on behalf of institutional and high net-worth clients. The combined firm
will have nearly $2.8 billion in assets under management. According to Timothy Ford, President and CEO of Foundry, “This strategic acquisition brings not only additional product depth to Foundry but also vehicle depth with its mutual fund and mutual fund sub-advisory relationships”. David Dreman, Chairman of Dreman Value Management, LLC said, “Our Small and Mid Cap Teams are first-rate and I wish them and Foundry Partners, LLC every success. Dreman Value Management itself is increasingly concentrating on much larger Contrarian portfolios, which statistically have shown consistently higher than market returns over time.” Mark Roach of Dreman will join Foundry as a Managing Director and member of the firm’s investment management committee. “This is something of a homecoming for me. My family is in Cleveland and I previously worked with certain members of Foundry when I was with Fifth Mark Roach brings over 23 years of investment experience to Foundry and has been Portfolio Manager of the Small and Mid Cap products at Dreman since 2006. In addition to Mark, Mario Tufano will be joining as a Portfolio Manager and David Greenberg will oversee the trading efforts of these strategies. Mario and David contribute 26 years of combined investment and Terms of the transaction were not disclosed.
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Industry Updates
Foundry Partners acquires small and mid cap value team from Dreman Value Management
Tuesday, March 22, 2016
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