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Third Avenue names Thomas Lapointe co-manager of Focused Credit Fund

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Third Avenue Management, an investment adviser to private and institutional clients, has promoted Thomas Lapointe to co-manager of Third Avenue Focused Credit Fund, effective immediately.

Lapointe will share responsibility for managing the USD900m mutual fund with Jeffrey Gary, who has managed the fund since its inception just over one year ago.

The fund invests throughout the capital structure and investments include high-yield bonds, bank loans, capital infusions and debt-to-equity exchanges. It is a concentrated fund which uses Third Avenue’s research to identify attractive opportunities in the credit markets.

Lapointe joined Third Avenue Management in June 2009 along with Gary and the two have worked in tandem since that time building out the credit team and launching the Third Avenue Focused Credit Fund.

Lapointe has more than 18 years of investment experience and, prior to joining Third Avenue, was responsible for managing approximately USD6bn in mutual fund and institutional assets as co-head of high yield investments for Columbia Management.

Third Avenue’s chief executive David Barse says: "Tom’s elevation to co-manager is in keeping with the firm’s strategy to ensure senior talent and stability among our fund manager ranks. We are fortunate to have an experienced and talented professional as Tom on our team."

Lapointe adds: "I have always admired Third Avenue’s approach and after having been at the firm for over a year and seen the team in action, I am even more impressed with the level of professionalism and dedication with which the funds are managed. I am thrilled to become part of such an esteemed group of portfolio managers."

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