Joseph DiMenna

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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 $3.5 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[edit]

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[edit]

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]

And the DiMenna Children's History Museum at The New-York Historical Society will bear 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. The gift will support the design and construction of the new facility, which will immerse children in American history by exploring and re-enacting the experiences of young New Yorkers throughout the centuries.[6]

Education[edit]

DiMenna received a B.S. in Finance from the Fairfield University Dolan School of Business in 1980, where he currently serves as a member of the Board of Trustees and Chair of the Investment Committee.

References[edit]