Causeway Capital
Causeway Capital Management was founded in 2001 by Sarah Ketterer and Harry Hartford after they left Hotchkis & Wiley. The Los Angeles-based firm specializes in international and global equity strategies, combining fundamental bottom-up analysis with quantitative risk management. Causeway was an early pioneer in using quantitative tools to enhance and discipline traditional value investing, developing systematic screens to identify undervalued international stocks while managing portfolio risk.
The firm manages a range of international equity strategies for institutional clients including pension funds, endowments, and sovereign wealth funds. Causeway's approach emphasizes stocks trading at discounts to intrinsic value in developed international markets, with a particular focus on European and Asian equities. Sarah Ketterer has been a prominent voice arguing that non-US equities have been persistently undervalued relative to their American counterparts, and that international diversification offers compelling risk-adjusted returns for long-term investors.
The best international opportunities are often found in high-quality businesses that are temporarily out of favor due to macroeconomic concerns specific to their home markets — concerns that the patient investor can look through.
— Causeway Capital, Causeway Capital Management