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Cove Street Capital launches Value Strategies

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Jeffrey Bronchick (pictured), former chief investment officer at Reed, Conner & Birdwell (RCB), has opened a value-oriented equity investment firm, Cove Street Capital, to manage concentrated equity strategies through separate accounts and sub-advised relationships.

Based in El Segundo, California, and an SEC-registered investment adviser, Cove Street launches with approximately USD400 million in assets under management and a global mix of institutional and high-net-worth clients. Cove Street is a sub-adviser to the Litman Gregory, Masters Select Smaller Companies Fund (MSSFX) and the Cove Street Capital Small Cap Value Fund (RCBSX).

Prior to founding Cove Street, Bronchick was a lead principal and chief investment officer of RCB, a Los Angeles-based investment manager that he joined in 1989. Bronchick has managed research-driven, concentrated value-based strategies across all market capitalizations for more than 20 years and has led extensive credit work throughout the corporate capital structure.

“We are classic value investors in the tradition of Benjamin Graham and Warren Buffett,” says Bronchick. “In a world dominated by the whims of short-term, macro-thinking, we believe there remains a compelling opportunity to focus on a limited number of carefully researched ideas for a select group of like-minded clients. Our goal is to generate performance over the long run, not to sell products in order to blindly grow assets.”

Cove Street’s institutional-quality back office infrastructure is led by Daniele Beasley, who was Bronchick’s partner at RCB. Beasley, with more than 20 years of experience in investment management operations and compliance, serves as Cove Street’s president and chief operating officer.

“We appreciate the vote of confidence we’ve received from many of our longstanding clients and their advisers regarding Cove Street’s launch,” says Bronchick. “Our mission is simple: continually improve a world-class investment organization that delights clients with excellence in performance and client service, and inspire colleagues with a collegial meritocracy that rewards intellect and results.”

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