At Third Avenue’s 17th Annual Value Conference, Third Avenue’s Credit team presented some of the very unique work they are doing in the event driven space, particularly within distressed credit and restructurings. The team walked us through their participation in the restructuring of five different companies in different countries and sectors: Ideal Standard, Codere, Energy Future Holdings, Momentive Performance Materials and 21st Century Oncology.
On Third Avenue’s value approach to credit investing, Lead Portfolio Manager of the Third Avenue Focused Credit Fund, Tom Lapointe commented: “On the Equity side of Third Avenue’s business, we focus on what we believe are good companies, undervalued with little debt, and the fulcrum security here is the equity. On the Credit side at Third Avenue, we are looking to invest with good companies with bad balance sheets, and where we have the opportunity to participate in their restructuring process.”
To watch the full-length video, CLICK HERE
Certain information contained in this presentation constitutes “forward-looking statements,” which can be identified by the use of forward-looking terminology such as “may,” “will,” “should,” “expect,” “anticipate,” “project,” “estimate,” “intend,” “continue” or “believe,” or the negatives thereof (such as “may not,” “should not,” “are not expected to,” etc.) or other variations thereon or comparable terminology. Due to various risks and uncertainties, actual events or results or the actual performance of any fund sponsored by Third Avenue Management (Trades, Portfolio) LLC (each, a “Fund”) or other account may differ materially from those reflected or contemplated in any such forward-looking statement. Past performance is not necessarily indicative of future results.
These materials and the presentations do not constitute an offer to sell or a solicitation of an offer to purchase any securities. Any offer or solicitation of any Fund shall only be made pursuant to a prospectus or a final confidential private placement memorandum of the relevant Fund, which would supersede the information contained herein and in the presentations in their entirety.
- Third Avenue Management Undervalued Stocks
- Third Avenue Management Top Growth Companies
- Third Avenue Management High Yield stocks, and
- Stocks that Third Avenue Management keeps buying
- Marty Whitman Undervalued Stocks
- Marty Whitman Top Growth Companies
- Marty Whitman High Yield stocks, and
- Stocks that Marty Whitman keeps buying
