Martin Whitman and his team have expanded their mutual fund reach into fixed income. In June Third Avenue revealed the hiring of Jeffrey Gary alongside plans to create the Third Avenue Focused Credit Fund, and now in the Monday Wall Street Journal "Fund Track" column, Daisy Maxey follows up on the Monday launch of that new fund, Third Avenue's first debt mutual fund. According to the WSJ, this is Third Avenue's first new fund in eight years.

The
Debt investing itself is not new for Third Avenue. Gary told the WSJ that the deep value shop already manages about $1 billion in credit and distressed securities, via a hedge fund and separate accounts. 

Edited by: Neil Anderson, Managing Editor


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE