Joseph DiMenna
| Joseph A. DiMenna, Jr. | |
|---|---|
| Born | Trumbull, Connecticut |
| Alma mater | Fairfield, B.S., Finance |
| Occupation | Hedge fund manager |
| Employer | Zweig-DiMenna Associates |
| Title | Managing Director |
Joseph A. DiMenna, Jr. (born in Trumbull, Connecticut) is an American hedge fund manager and Managing Director of Zweig-DiMenna Associates with total assets under management exceeding $2.0 billion. He has been the Head Portfolio Manager of the Zweig-DiMenna partnerships and funds since he co-founded the first Zweig-DiMenna Partners with Martin Zweig in 1984. DiMenna is considered a pioneer in long / short investing and Zweig-DiMenna one of earliest firms in alternative investments.
Career
DiMenna joined Zweig Cos. in 1977 when he was a student at the Fairfield University Dolan School of Business, shortly after having written a letter to his mentor, Martin Zweig, whose popular newsletter, The Zweig Forecast, he read avidly.[1]
DiMenna formed the first Zweig-DiMenna partnership in 1984 and Zweig-DiMenna International Limited, the first offshore fund, in 1987. Zweig-DiMenna Natural Resources L.P. began in 2005, and the offshore fund with this sector strategy in 2007.
In 1999, BusinessWeek profiled DiMenna as "one of the best stock-picker no one has ever heard of," recognizing Zweig-DiMenna's 15-year annualized return, after fees, of 25%, vs. the 18.6% annualized total return for the Standard & Poor's 500-stock index.[2]
In 2002, DiMenna was named "Entrepreneur of the Year" by the National Foundation for Teaching Entrepreneurship, an organization that promotes the teaching of business principles to students.
In 2007, Zweig-DiMenna International Limited was Absolute Return Magazine's "U.S. Equity Fund of the Year" in recognition of its 82.25% annual return which far outpaced its industry peers. Absolute Return Magazine also nominated the long / short equity fund for "Fund of the Year." [3]
In 2008, Alpha Magazine ranked DiMenna 13th on their list of Top Moneymakers noting his $450 million earnings in 2007 and double-digit annual returns between 2002 and 2007.[1]
DiMenna Foundation
The DiMenna Foundation supports organizations in the arts, education, and those for the development of children. The Foundation has been a major supporter of the Harlem Children's Zone, College Summit, the New York-Presbyterian Hospital and the Robin Hood Foundation.[4]
The DiMenna-Nyselius Library at Fairfield University bears his name in recognition of his $5 million donation in 1998 used to fund the expansion of the library. The DiMenna Center for Classical Music of the Orchestra of St. Luke's bears his name in recognition of his $5 million donation in 2008 used to create the new resource center.[5]
The DiMenna Children's History Museum at The New-York Historical Society bears his name in recognition of his $5 million donation in 2010, which will be used to create a new interactive museum for children to be built as part of the renovation of the Society's landmark building.[6]
Education
DiMenna received a B.S. in Finance from the Fairfield University Dolan School of Business in 1980, where he serves as a member of the Board of Trustees and Chair of the Investment Committee.[7]
Personal life
DiMenna is married to Diana DiMenna and is the father of two daughters. He is a polo player and former chess champion. DiMenna and his wife are art collectors, and enjoy African tribal art, abstract expressionist, rare books, and U.S. historical documents.[8]
References
- 1 2 Alpha's Top Moneymakers: No. 13 Joseph DiMenna
- ↑ The Stock Whiz You Never Heard Of
- ↑ 2007 Absolute Return Awards: Joseph DiMenna
- ↑ Panache Privee: Joe DiMenna
- ↑ Hedge-Fund Manager Helps Nomadic Orchestra Buy Permanent Home
- ↑ New-York Historical Society Announces $5 Million Donation from Joseph and Diana DiMenna to Create an Interactive Children’s History Museum
- ↑ "Fairfield University Alumni Celebrate Diversity and Raise $1.4M for the Multicultural Scholarship Fund". PRWeb. Retrieved 2015-11-18.
- ↑ "Meet Joe DiMenna: The Hedge Fund Manager That If You Don't Know, You Should". Business Insider. Business Insider. Retrieved 17 October 2015.