Michael Lehman
Portfolio Manager
Third Avenue Management

Mr. Lehmann is a portfolio manager for the Third Avenue Value Fund. He helped to introduce and develop Third Avenue's Value Equity Separate Accounts when he joined the firm in 1998. He manages concentrated portfolios made up of the best stocks from Third Avenue's value equity, small cap, real estate and international strategies. Mr. Lehmann co-manages the Third Avenue Value Fund UCITS for offshore investors as well as many of Third Avenue's subadvised accounts.

Previously, Mr. Lehmann analyzed small-cap stocks and special situations for Robert M. Cohen & Co. a proprietary trading firm that also ran separate account and hedge fund portfolios.

As Vice President of Gabelli Funds, Mr. Lehmann managed separate accounts while also producing due diligence research into special situations for the entire fund group. He worked closely with Mario Gabelli on institutional private accounts.

Mr. Lehmann was a stand-out collegiate baseball player for the University of Southern California and then for Fordham University where he graduated with a B.S. in Finance.