Eric Cinnamond joined River Road Asset Management as a vice president and portfolio manager.
He will lead the firm’s new “independent value” investment strategy, according to a news release from River Road.
In a telephone interview, R. Andrew Back, River Road’s president and co-founder, said Mr. Cinnamond has the experience needed to lead the firm’s first unconstrained, opportunistic offering. Mr. Cinnamond will focus on stocks with market capitalizations of between $100 million and $5 billion, with the ability to go into cash when value doesn’t appear compelling and the goal of achieving absolute returns, rather than relative returns, he said.
Mr. Cinnamond was a portfolio manager and vice president at Intrepid Capital Management. Mark Travis, Intrepid’s president and CEO, said with the return to Intrepid of Jayme Wiggins as a portfolio manager earlier this year, Intrepid’s investment team remains at full strength.