Spouting Rock Asset Management has agreed to purchase New York-based investment management firm Stewart Asset Management for an undisclosed amount.

The transaction is scheduled to complete by the end of this month.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The current Stewart investment team, including chairman Bill Stewart, will move to Spouting Rock as part of the deal.

Bill Stewart said: “We’re pleased to join Spouting Rock as we look to expand our distribution among investors, institutions and financial advisers.

“We will retain the Stewart Asset Management brand name as we enter this new phase and the investment team will remain intact with Tom Valenzuela as chief investment officer, a role he also held at W.P. Stewart.”

Stewart intends to deliver long-term capital appreciation via a concentrated portfolio of US growth equities.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

In addition to offering separately managed accounts in the US as well as Canada, the firm provides a UCITS fund to investors outside the US. 

The firm, established in 2014 after AllianceBernstein’s purchase of W.P. Stewart & Co, aims to grow clients’ capital by two-fold on average every five years.

Spouting Rock CEO Marc Brookman said: “We are impressed with the firm’s strong conviction in the power of compounding and its research-driven investment process. The team will serve as a strong complement to our rapidly-growing platform of boutique managers.”

A multi-boutique manager based in the US, Spouting Rock offers traditional, alternative, and thematic investment solutions.

In May this year, British responsible investment management firm Alquity reached a strategic alliance with Spouting Rock, with the latter investing in Alquity.

Earlier in 2022,  Spouting Rock agreed to pick majority stake in alternative asset manager Old Hill Partners.