Azarias Capital Bolsters Operations and Investment Teams with Key Hire and Senior-Level Promotion

Jocelyn Dalkin Joins as Chief Operating Officer and Chief Financial Officer

Dan Petruzzi Promoted to Partner

Azarias Capital (“Azarias”), a boutique small cap value equity manager, today announced that it has enhanced its operations and investment teams with a key hire and a senior-level promotion.

Jocelyn Dalkin, former Chief Financial Officer and Chief Compliance Officer at long/short growth equity manager Millrace Asset Group, has joined Azarias as Chief Operating Officer and Chief Financial Officer, effective immediately. An industry veteran with 25 years of experience in accounting, finance, compliance and operations, Ms. Dalkin will manage the build-out of the firm’s operational and financial infrastructure as Azarias continues to strategically scale. A Certified Public Accountant, Ms. Dalkin previously held positions at Cipperman Compliance Services, TC Partners LLC and Bluefin Investment Management LLC.

Daren Heitman, Managing Partner and Chief Investment Officer of Azarias, said, “We are very excited to welcome Jocelyn to the Azarias leadership team. Jocelyn is a highly skilled executive with significant experience working in finance and operations roles at institutional investment management firms. Her skills are complementary to those of our existing bench of talent, and we are confident she will help us to continue strengthening our capabilities.”

Ms. Dalkin commented, “Over the last ten years, Daren has thoughtfully curated a team of smart professionals dedicated to driving results for investors. I am thrilled to join this team and to leverage my expertise to further institutionalize the firm.”

In addition, Azarias is announcing that Dan Petruzzi has been promoted to Partner. Mr. Petruzzi joined Azarias in 2023 as Associate Portfolio Manager after working as a Senior Analyst at Dupont Capital Management for 13 years. During his time at the firm, Mr. Petruzzi has positively contributed to Azarias’ investment research and idea generation processes.

Mr. Heitman added, “Azarias was founded on the principle of purchasing out of favor stocks poised for an earnings recovery. Being a contrarian is easier in theory than in practice, but Dan has proven to be an insightful, independent analyst willing to go against the herd. Additionally, Dan supports Azarias’ mission to prioritize client alignment, not AUM. He is the perfect cultural fit and will be a valuable Partner going forward.”

Mr. Petruzzi added, “I am honored to step into this new role and to grow within an organization that prioritizes contrarian investing. Azarias has the culture, investment philosophy, and resources required to harvest the value dislocations the small-cap universe presents. I know that the future is bright for our investors and look forward to contributing to the ongoing success of the firm as a Partner.”

The addition of Ms. Dalkin and promotion of Mr. Petruzzi follow Tim Percarpio, former Head of Investor Relations at MidOcean Partners, joining Azarias as Managing Partner, Investor Relations in April 2023.

Mr. Heitman concluded, “I am proud of the team we have assembled over the last decade. Looking ahead, we will continue to strategically scale our firm with professionals who are committed to implementing our high conviction investment approach and delivering results for our clients.”

About Azarias Capital

Azarias Capital is an employee-owned, boutique asset manager focused on small cap value equity investment opportunities. Azarias invests in publicly traded companies on the cusp of a fundamental recovery and with a tangible catalyst capable of unlocking meaningful stock price appreciation. The firm manages a high conviction portfolio of approximately 20 stocks, each of which has exceptional balance sheet strength and a durable business model. Azarias also manages a thematic portfolio focused on uranium mining. For more information, please visit: https://azariascapital.com/

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