It retains its Above Average Parent rating.
Harry Hartford and Sarah Ketterer left value-oriented investment boutique Hotchkis & Wiley and founded Causeway in 2001, bringing several associates with them The firm has expanded to 100 employees—including 36 investment professionals—and had $44 billion in assets as of March 2022.
The firm started by launching Causeway International Value CIVVX in 2001; it has opened only five more funds in the next two decades. All are international-equity offerings, and all employ the same strong fundamental-value process, the same sound quant-driven discipline, or a combination of the two.
The firm is nearly 100% employee-owned; 27 employees beside Hartford and Ketterer (including all the other portfolio managers) have equity in the firm. Talent retention has been excellent.
Hartford and Ketterer are in their early 60s; given their importance, any changes in their roles would be significant. But there are many talented managers at the firm, and the team is quite seasoned and skilled overall. The operating committee includes five Causeway veterans besides Hartford and Ketterer. The operating committee expects to complete its third five-year plan for the firm—including a framework for a measured evolution to the next generation of leadership—by the end of 2022.