Adam H. Schwartz
Senior Managing Director, Portfolio Manager
Years at First
Adam Schwartz is a Senior Managing Director and Portfolio Manager. He works closely with First Manhattan Co.'s Executive Chairman, Robert Gottesman, to manage assets for individuals, families, partnerships, and family and charitable trusts. He is committed to understanding each client's investment goals and working collaboratively to meet them.
Adam played a lead role in establishing two of the firm's private investment vehicles—the FM First China Funds and FMZ Ventures Fund, L.P. He travels to China and San Francisco regularly and works closely with his Fund partners on company research, portfolio management, and due diligence.
Prior to joining First Manhattan in 2001, Adam was a Strategic Development Analyst at a European telecom company in London where he analyzed merger and acquisition opportunities. Before that, he was an Investment Banker for Morgan Stanley in New York, covering telecom companies.
Adam serves on the Board of Directors of The Child Center of New York. He holds an MBA from Columbia Business School and a BA in Economics and International Relations from Brown University. He lives in Westchester with his wife, Nell, and their three children.
Portfolio construction and management
Adam is a value-oriented, long-term investor who is focused on preserving, sustaining, and growing his clients' capital. When making investment decisions, he:
- Tends to invest in companies that are led by seasoned management teams that have proven track records for generating attractive returns. He is also drawn to companies with enduring competitive advantages—specifically those that are undervalued, but operate in an industry with a high barrier to entry and high growth potential.
- Thoroughly evaluates each company's fundamental business, looking primarily, though not exclusively, at its cash flow, rates of return, profit margins, competition, and above all, potential for growth. He looks for tailwinds in businesses that dominate their niches with goods or services that are essential for customers. Like many of his colleagues, Adam is also personally invested in the companies he purchases for his clients.
- Works collaboratively with fellow Portfolio Managers and the firm's in-house research team. A core part of his research process involves meeting with multiple levels of a company's management team, as well as industry experts, before deciding whether to make an investment.
- Engages extensively with our partners at First Beijing (FM First China Funds) and FMZ Private Investments, leveraging their innovative research and variant view of the world.
I have come to believe that approaching every potential new investment with a healthy dose of skepticism is the best way to test the true quality of a company and the potential of its stock to generate attractive returns.