James B. Rosenwald


James B. Rosenwald III is an American investment advisor and academic who is the co-founder and Chief Investment Officer of Dalton Investments Inc., an asset management company headquartered in New York, NY, and adjunct professor at Stern School of Business at New York University. He invests in the Pacific Rim area.
In 2020, Rosenwald co-founded Activist Japan investment trust Nippon Active Value Fund and launched its IPO. Rising Sun Management Ltd. serves as the fund's investment advisor.

Early life and education

Rosenwald was born in New York City. He is the brother of designer and ceramic artist Jill Rosenwald, and the first cousin of actress Kyra Sedgwick. Rosenwald attended the Dalton School in Manhattan for 15 years, where he met Steve Persky, his partner at Dalton Investments. He received an A.B. in economics from Vassar College and an M.B.A. from the Graduate School of Business at New York University. He is a CFA Charterholder since November 1987.

Investment career

Rosenwald commenced his investment career at Sterling Grace & Co. While acting as an outside advisor for Soros Fund Management, Rosenwald met Nicholas Roditi, who was also managing money for Soros. In 1992, Rosenwald and Roditi founded and co-managed Rosenwald, Roditi & Company, Ltd., now known as Rovida Asset Management, Ltd. Rosenwald co-founded Dalton Investments in 1999. Assets under management were $5.7 billion as of September 30, 2025.
Dalton's global value investment process involves holding undervalued stocks for the long term. In particular, it prefers owner-operator companies that align the interests of management and shareholders. In 2020, the firm became a signatory to Climate Action 100+, an investor initiative focused on corporate greenhouse gas emissions. In 2024, the U.S. House Judiciary Committee named Dalton in an investigation into the initiative, with Committee Chairman Jim Jordan characterizing the group as an "ESG cartel". Rosenwald is also the chairman and CEO of Rosenwald Capital Management, Inc, a registered investment advisor since 1984. Clients include pensions, endowments, financial services companies, sovereign wealth funds, profit sharing plans and high-net-worth individuals.
In addition to security investments, Rosenwald has invested in real estate since 1997. He and Kyle Kazan, co-founded Beach Front Properties, LLC, a real estate investment company based in California. Together, they have invested in residential and commercial properties in the U.S., China, and Germany. Rosenwald's partnership with Kazan has extended beyond real estate; as of 2025, he holds an ownership stake in Glass House Brands Inc., a California cannabis company co-founded by Kazan. According to SEC filings, Rosenwald holds 17.2% of the company's Multiple Voting Shares and 3.4% of Equity Shares, representing approximately 14.1% of total voting power.
In July 2025, Glass House Brands' cultivation facilities in Camarillo and Carpinteria, California, were raided by U.S. Immigration and Customs Enforcement agents as part of an investigation into alleged labor violations. The operation resulted in the detention of workers and drew national media attention regarding labor practices in the cannabis industry.
Since 2012, Rosenwald has been an adjunct professor at the Stern School of Business at New York University, where he teaches a course "Global Value Investing", which he learned from his grandfather who worked for Benjamin Graham, the "father of value investing", at Graham Newman Corporation. He and his wife, Laura, make annual contributions to NYU's endowment to fund the Rosenwald Global Value Student Investment Fund. Every year, the fund invests in one or more stocks based on recommendations made by the students in his class. In 2025, Laura and James Rosenwald sponsored the at NYU.

Relationship With Jeffrey Epstein

In January 2015, James Rosenwald exchanged emails with financier Jeffrey Epstein that were later released by the U.S. House Committee on Oversight and Accountability in November 2025. In an email titled “High Profile,” sent on January 5, 2015, Rosenwald wrote that during the Thanksgiving weekend he had “toasted” Epstein while visiting Long Island, adding that Epstein’s “name popped up again in the Press and I thought it was time to congratulate you on your wonderful financial successes since your days as my Physics prof at Dalton!!” He further commented, “Unless your PR advisor is Donald Trump, I am not sure that current press provides you with much benefit.”
According to Washington Square News, the email was sent shortly after media coverage reported civil allegations that Prince Andrew had sexually abused a minor in connection with Epstein, allegations that Prince Andrew denied. Rosenwald later confirmed that Epstein had been his physics teacher at the Dalton School in the mid-1970s.
On January 30, 2026, the U.S. Department of Justice released more than 3 million pages of files related to the ongoing investigation into Jeffrey Epstein. As part of this release, a new email from Rosenwald to Epstein was released. Sent on January 6, 2015, Rosenwald responded to Epstein's reply asking about David Asch, Rosenwald's friend and a professor at the University of Pennsylvania. Rosenwald wrote, "David is a 'named/seated' Professor at Wharton and the Penn Medical School. He is one of the US's leading thinkers on Medical ethics. Still has a wicked sense of humor and a sharp mind. My own background is far more modest and you can check it out on Wikipedia."

Social and charitable affiliations