The duo retains majority control, but 27 employees, including the firm’s other portfolio managers, now own portions of the firm. They are now carefully planning the transition to the next generation of leadership. They have a large crew of highly skilled professionals, so the challenge is in selecting the best leaders.
The firm has grown to more than 100 employees—a third of them investment professionals—and USD 47 billion in assets under management as of March 2024. Throughout its expansion, Causeway has remained judicious in rolling out new funds. The firm manages a handful of international and global value-oriented strategies that follow a mix of fundamental and quantitative processes. They’ve tweaked their processes but remain true to their value roots.
The firm now has several offices around the globe, but most investors remain in Los Angeles or Dallas. Business development professionals have long worked in Bryn Mawr, Pennsylvania. A small office in Melbourne, Australia, handles the superannuation business. And an office in Shanghai remains in place—although the firm has downscaled its business and parted ways with two investors based there.