About
Dalton Investments is a disciplined, opportunistic global investment firm specializing in Asia, Emerging Markets, and global equities. Founded in 1999 by Steve Persky, James Rosenwald, and Gifford Combs following the Asian financial crisis, the firm manages $4.5 billion with offices in Los Angeles, Las Vegas, New York, Tokyo, Hong Kong, Seoul, Sydney, and Mumbai. Notable campaigns include pushing Fuji Media Holdings for management changes and driving governance reforms across Japanese corporations. The flagship Dalton Global Opportunity Fund delivered 15.7% annually since inception.
Investment Focus
Dalton employs a value-oriented investment approach with expertise in Asian and emerging market equities (92% of AUM). The firm combines deep fundamental research with activist engagement, particularly in Japan and Asia, to drive corporate governance reforms, capital efficiency improvements, and shareholder value creation. Strategies include global hedged equity, Japan equity long/short, distressed debt, and targeted activism focusing on undervalued companies with catalysts for change.