Causeway is an independently owned investment management firm specializing in equity strategies that span the globe. We apply a combination of fundamental and quantitative research disciplines via value-focused strategies. Based in Los Angeles, we manage assets for institutions located in the United States and Canada as well as Australia, Europe, Asia and the Middle East.
Causeway’s investment team’s track record spans nearly 30 years (including tenure at a prior firm), reflecting our ability to help our clients meet their investment objectives as markets cycle and evolve.
Pioneers in international markets
In 1990, when few asset allocators dared invest substantially beyond their home markets, Sarah Ketterer co-founded the international value strategy for Hotchkis & Wiley. Harry Hartford joined her in 1994, and they continued to manage the international value strategy when Merrill Lynch Investment Managers (MLIM) purchased Hotchkis & Wiley in 1996. Their shared belief in value-focused, fundamentally driven active management guided the design of our flagship strategy. In 2001, members of this international value equity team left to form Causeway. They believed that an employee-owned firm could better serve its clients. The team of 25 people included fundamental and quantitative investment professionals, operations, and compliance staff — many of whom remain at Causeway today.
Fundamental and quantitative: A strengthening union
Marrying seemingly disparate fundamental and quantitative research disciplines is at the core of our approach. Early on, we embedded a quantitative risk model into fundamental portfolio construction, for deliberate portfolio risk positioning. Later, we created a quantitatively driven alpha process with fundamental risk mitigators to capture diverse performance drivers in emerging markets equities. Our global absolute return strategy synthesized both approaches. Today, fundamental and quantitative analysts at Causeway continue to collaborate, developing new ways for quantitative tools to assist in fundamental portfolio decisions, and for our collective fundamental knowledge to augment our quantitative capabilities.
Sharing our powerful research tools with clients
In recent years, we have complemented our investment management services by sharing our analytical capabilities and research with our clients, from our Risk Lens service to our research in Environmental, Social, and Governance (“ESG”) materiality.
Members of the international team and administration begin leaving the Hotchkis & Wiley division of Merrill Lynch Investment Managers to form Causeway Capital Management LLC, with 25 ultimately joining the new firm
Causeway launches International Value Equity Strategy
Causeway launches Global Value Equity Strategy
Causeway launches International Value Fund
Causeway launches International Value Select strategy
Arjun Jayaraman, portfolio manager from PanAgora Asset Management, a division of Putnam Investments, joins Causeway to head the quantitative research team
Causeway's principals buy back a 10% equity stake from private investor, Evercore Investments, to become 90% employee-owned
Causeway launches Emerging Markets strategy, including Emerging Markets Fund
Causeway launches International Opportunities (International + Emerging Markets) strategy
Causeway launches Global Value Fund
Causeway launches International Opportunities Fund
Causeway launches Global Opportunities (Global + Emerging Markets) strategy
Causeway launches Global Absolute Return Fund
Causeway acquires remaining equity stake from private investor, Evercore Investments, to become 100% employee-owned
Causeway launches International Small Cap Fund
Causeway hosts inaugural client conference
Causeway completes internal merger transaction to create a new parent holding company owned by employees
Causeway signs the United Nations Principles for Responsible Investment (UN PRI)
Causeway hosts 2nd client conference
ESG Proprietary Governance Model
Causeway Convergence Client Conference
The Causeway legend
Along the coastal cliffs of Northern Ireland, over 40,000 basalt columns interlock in a unique topology to form the Giant’s Causeway. Geologists attribute the origin of the Causeway to the cooling of multiple lava flows upon contact with the sea over 60 million years ago. Yet, according to local legend, the geographical wonder was formed when giant Finn McCool hurled lumps of earth into the Irish Sea to build a bridge between Ireland and Scotland.
This distinctive bridge between lands symbolizes timelessness, survival, and permanence. At Causeway, we share a deep commitment to the enduring virtues of thorough analysis, critical debate, and the cultivation of talent.
Moreover, the structure of our own research team reflects the interlocking columns of the Causeway. We draw on the innovative spirit of the legendary Finn McCool as we blend quantitative and fundamental research to help our clients reach their goals.
This spirit of innovation is pervasive at Causeway. We are a firm replete with new ideas, cutting-edge research and proprietary models. Causeway is a place where new ideas are generated and old practices challenged.