Brandes Investment Partners, L.P.

Your Value-Investing Specialist

In 1974, Charles Brandes launched the firm that bears his name in San Diego, California. With absolute devotion to value investing principles, modeled after the investing style pioneered by Benjamin Graham, Charles adapted Graham’s methods to the realities of today’s global marketplace.

Brandes LP was one of the first investment firms to bring a global perspective to value investing and has consistently applied the active, deep value approach to every portfolio it manages—in all market conditions. The firm is steadfast in its approach, applies a long-term perspective to investing and business management, as firmly declared in the firm’s unique 100-Year Vision.


Charles Brandes Retirement

On February 26, 2018 Charles Brandes announced his retirement, and the firm announced the following:

Partnership Governance

Management of the firm rests with the senior executives of the firm, including our CEO Brent Woods. Under our partnership agreement, an entity owned by Glenn Carlson and Jeff Busby, both Executive Directors and long tenured Limited Partners of the firm, has automatically become the General Partner of our partnership. Going forward, Brent Woods will report to Glenn as representative of the General Partner entity. We have retired the title of “Chairman”.

Firm Ownership

The framework to deal with the transfer of Charles’ ownership to the remaining partners is laid out in our partnership agreement. Under this agreement, the firm will pay Mr. Brandes for his stake over a 10-year period, with the size of each annual payment (the first of which will be in March 2019) based on the firm’s profitability in the prior year. We fully expect the framework will allow us to pay for his stake without incurring debt or needing capital from outside parties. In other words, this structure has been set up to ensure that we remain a private, employee-owned firm.

Investment Oversight Committee

As we communicated previously, Brent recently rejoined the Investment Oversight Committee. We had already been planning to add to this committee given the retirements of Ian Sunder and Jeff Meyer over the last couple of years. So, I’m pleased to report that Rhonda Berger, Director, Institutional Client Portfolio Management, is joining the IOC.

Global Opportunities Investment Committee

Since the Global Opportunities Investment Committee already has representatives from the key associated investment committees, we do not plan to add anyone to this team to replace Charles. Although the Global Opportunities strategy currently has less than 2% of firm AUM, it is a potential growth area and we are confident the strategy is in good hands. We also note that this committee does not conduct any original valuation work but rather leverages work from the firm’s investment teams.

Biographies

Glenn R. Carlson, CFA

Executive Director

Responsibilities

  • Member of the Investment Oversight Committee, which monitors the processes and activities of the firm’s investment committees
  • Member of the Brandes Institute Advisory Board
  • Experience began in 1983
  • Joined Brandes Investment Partners in 1986
  • Limited partner of the firm’s parent company

Education

  • BA from the University of California, San Diego
 

Jeffrey A. Busby, CFA

Executive Director

Responsibilities

  • Member of the Investment Oversight Committee, which monitors the processes and activities of the firm’s investment committees
  • President of Brandes Investment Trust
  • Experience began in 1986
  • Joined Brandes Investment Partners in 1988
  • Limited partner of the firm’s parent company

Education

  • MBA in finance from the University of California, Berkeley
  • BS in chemical engineering from Northwestern University
 

Brent V. Woods, CFA

Chief Executive Officer

Responsibilities

  • Chief Executive Officer, leading the firm’s Senior Management Team, which is responsible for day-to-day operations and long-term strategic direction
  • Member of the International Large-Cap Investment Committee

Career Highlights

  • Managing Director, Investments Group with Brandes Investment Partners, responsible for the firm’s securities research efforts and oversight of the product investment committees
  • Experience began in 1995
  • Joined Brandes Investment Partners in 1995
  • Limited partner of the firm’s parent company

Education

  • JD (cum laude) from Harvard Law School
  • Master’s in international studies from St. John’s College at Cambridge University, England
  • AB (Phi Beta Kappa) from Princeton University
 

Rhonda Berger

Director, Institutional Client Portfolio Management

Responsibilities

  • Lead the firm’s Institutional Portfolio Management Team, which works with institutional clients and their consultants to provide insights and interpretation of the firm’s portfolio strategies and investment philosophy, and coordinates with Investment Committees to ensure that we accommodate client-specific guidelines and consider existing portfolio allocations when implementing investment decisions
  • Member of the Brandes Institute Advisory Board
  • Experience began in 1988
  • Joined Brandes Investment Partners in 2002

Career Highlights

  • Product Specialist for Small-Mid Cap Strategies with Brandes Investment Partners
  • Managing Director in international equities with Dresdner Kleinwort Benson (New York) where she oversaw the Japanese Equity Research Sales Desk

Education

  • MBA with a concentration in finance from the Stern School of Business at New York University
  • BA in economics from Wellesley College

Advisors are encouraged to contact their Bridgehouse Sales Team Member or member of the Bridgehouse Executive Team with any questions or information requirements.