Hedge Fund - Dalton Investments

Established in 1999, Dalton Investments is an investment management firm based in Los Angeles, CA, with a subsidiary in Tokyo. Specializing in real estate and hedge funds, the firm actively manages long/short global equity strategies for diverse clients. Its real estate arm focuses on distressed asset acquisition and management, particularly in commercial properties across Japan, Asia, and Emerging Markets. Meanwhile, the hedge fund arm employs a global value-oriented approach across equities, fixed income, and distressed investments. Independently owned by founders with over 30 years of experience, Dalton prioritizes insight and agility in navigating the dynamic global market landscape, aiming to deliver strong returns relative to benchmarks.

As a Founding Partner, Managing Director, and Portfolio Manager at Dalton Investments since its inception in 1999, Mr. Gifford Combs brings over 40 years of investment expertise to the firm. Before joining Dalton, he managed equity portfolios for both US and international institutions at Pacific Financial Research, a Beverly Hills-based money manager overseeing assets exceeding US$15 billion. Mr. Combs retired as a partner in 1994 to focus on managing a US investment partnership, later transitioning to manage portfolios for Pacific and General Investments in 1998. Beyond his professional commitments, Mr. Combs contributes his insights as a member of the investment committees for the College of the Atlantic in Bar Harbor, the Mt. Desert Land and Garden Preserve in Seal Harbor, and the Cambridge University "Dear World" Capital Campaign in the United Kingdom. He holds an M.Phil degree in Economics and Politics from Cambridge University and an AB degree from Harvard College.

Dalton Investments serves 37 clients with $3,268,032,625 in discretionary assets under management (AUM) as of their Form ADV dated April 2021. Their most recent 13F filing for Q4 2023 disclosed $151,081,049 in managed 13F securities, with a top 10 holdings concentration of 85.3%. The fund's largest holding is ICICI Bank Ltd. ADS ADR, with 1,663,068 shares held.