An Exceptional Mid-Cap Track Record

Thyra E. Zerhusen is the principal founder of Fairpointe Capital LLC, CEO and chief investment officer of the firm. She is part of the investment team, serving as lead portfolio manager for the Mid-Cap Equity and ESG Equity Strategies, including the AMG Managers Fairpointe Mid Cap Fund, the AMG Managers Fairpointe ESG Equity Fund, the Parvest Equity USA Mid Cap Fund, and institutional separate accounts.

Prior to founding Fairpointe Capital, Thyra was the chief investment officer for Mid-Cap Equities at a predecessor firm, beginning in October of 2003. Thyra also spent four years at Talon Asset Management, as Senior Vice President and Portfolio Manager, where she began managing the Aston (now AMG) Fairpointe Mid Cap Fund. She has been a guest on Wall Street Week with Louis Rukeyser, CNNfn’s Mutual Fundamentals, Bloomberg, and CNBC.

Mary L. Pierson is a co-founder of Fairpointe Capital LLC and Co-CEO. She is part of the investment team, serving as co-portfolio manager for the Mid-Cap Equity and ESG Equity Strategies, including the AMG Managers Fairpointe Mid Cap Fund, the AMG Managers Fairpointe ESG Equity Fund, the Parvest Equity USA Mid Cap Fund, and institutional accounts.

Prior to co-founding Fairpointe Capital, Ms. Pierson served for seven years as a member of the Mid-Cap Investment Team, led by Thyra, at a predecessor firm. She co-managed the Aston (now AMG) Mid Cap Fund, the Parvest Equity USA Mid Cap Fund and separately managed institutional accounts as well as providing research and analysis of existing and potential mid-cap equity holdings.

I spoke with Thyra and Mary on December 4.

Please tell me about the history of your mid-cap core equity product and its investment mandate, as well as your backgrounds that led to the introduction of this product?

Thyra: In 1999, I was hired to manage a mutual fund. My mandate was to transition an existing all-cap fund to a mid-cap product. I had worked on mid-cap stocks for a while. The Fund had only $18 to $20 million in assets at that time. I gave up a job and took a salary cut to run this fund.

That was the origin of this mid-cap product and 20 years later we continue to use the same process.