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Adam Ermanis Returns to Third Avenue Amid Strong Performance

Third Avenue Management LLC (“Third Avenue”), a U.S.-based investment adviser and leading value investing firm, is pleased to announce that Adam Ermanis has rejoined the Firm as Managing Director, Client Services. In his role, Mr. Ermanis will be responsible for institutional and intermediary investor engagement, client relations, and business development.

“It is a distinct honor to rejoin Third Avenue at this moment in time, and although I have been back for only a short while, I am inspired by the level of energy here and the powerful collective commitment to producing investment results commensurate with the pride we all hold in our firm and Marty Whitman’s legacy among the industry’s most recognizable value investors,” said Mr. Ermanis.

“I am excited to be welcoming Adam back to the Third Avenue family. Adam has decades of industry experience, and he will be an integral member of the team focused on communicating the Third Avenue approach that has led to leading performance across all the Firm’s core strategies,” said Erik Kleinbeck, Head of Business Development.

For the last decade, Mr. Ermanis served as Managing Director at Evermore Global Advisors, a global catalyst-driven value equity specialist. From 2002-2009, during his prior tenure at Third Avenue, Mr. Ermanis was Managing Director, Business Development, where he was responsible for client relationship management for the firm’s traditional and early alternative strategies.

“We are thrilled to welcome Adam back to our team. For more than three decades, Third Avenue has delivered attractive results using a unique balance sheet-focused, price-conscious, fundamental value philosophy, an approach that is arguably more uncommon today than at any point in my career. Our firm would be hard-pressed to find a person better suited than Adam to communicate our approach and form lasting relationships with long-term-oriented clients,” said Matthew Fine, Portfolio Manager.

Mr. Ermanis concluded, “Third Avenue is among the most recognized investors within the fundamental value investing community and continues to show the effectiveness of its unique approach across various market environments. I’m excited to be back among some of value investing’s most practiced and dedicated investors as Third Avenue continues to strengthen its legacy.”

About Third Avenue Management

Third Avenue Management LLC is a New York City-based investment adviser founded in 1986 by legendary investor Martin J. Whitman. For more than 35 years, the Firm has consistently pursued a value approach to investing by focusing on the company’s balance sheet, the value of its underlying assets, the discounted price of its securities, and the ability of the enterprise to increase its corporate net worth over time. Today, the Firm is partnered with Affiliated Managers Group, Inc. (NYSE: AMG) and has more than $1.4 billion in assets under management across its five core strategies –Global Value (Nasdaq: TAVFX), U.S. Small-Cap Value (Nasdaq: TASCX), Global Real Estate (Nasdaq: TAREX), International Real Estate (Nasdaq: REIFX), and International Value – which are available to investors through Mutual Funds, UCITS, Separate Accounts, and Sub-Advisory Arrangements.


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